Tokyo shares hit 10-mth high on weaker yen; chip-related stocks shine [Reuters (UK)]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Reuters
Tokyo shares hit 10-mth high on weaker yen; chip-related stocks shine - Reuters 3 Min Read SYDNEY, Oct 16 (Reuters) - Japanese shares rallied to more than 10-month highs on Wednesday as a weaker yen lifted bluechip exporters, while chipmaking-related stocks advanced, taking their cue from Wall Street peers. The benchmark Nikkei share average climbed 1.2% to 22,472.92, its highest close since Dec. 3, having gaided 1.9% gains on Tuesday. The broader Topix rose 0.7% to 1,631.51, also closing at its highest in more than 10 months. Overnight, the Japanese yen hit a 2-1/2 month low of 108.90 yen against the greenback as investors flocked to riskier assets on hopes of an orderly British exit from the European Union. Officials and diplomats involved in negotiations over the acrimonious divorce between the world’s fifth-largest economy and its biggest trading bloc said that differences over the terms of the split had narrowed significantly. Yen-sensitive auto and car parts makers were in deman
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