Pursuits
Japanese Stocks Rise as Exporters Gain, Investors Await Yellen
- Volume remains muted while yen weakens, boosting carmakers
- Investors await Fed Chair Yellen’s speech in Jackson Hole
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Japanese shares rose, tracking gains in U.S. shares, with exporters rallying as the yen weakened. Volume slumped as investors assessed the outlook for Federal Reserve tightening ahead of Chair Janet Yellen’s speech.
Exporters provided the biggest support to the Topix index at the close in Tokyo. Investors are weighing the likelihood of U.S. interest rate hikes after data on the world’s biggest economy painted a mixed picture, with American new home sales surging while manufacturing slowed. Trading volume was 34 percent below the 30-day average ahead of Fed Chair Janet Yellen’s speech later this week at Jackson Hole, Wyoming.