Nikkei rises as yen depreciates to weakest level since 2008

Japanese share market finished the session modest higher on Tuesday, 09 September 2014, as greenback strengthening above 106 level against the yen underpinned buying in related stocks. But gains were limited as continued tensions in Ukraine and concerns about Scotland's upcoming referendum for independence (18 Sept) kept investors risk sentiments under pressure. The Nikkei 225 index rose 0.28%, or 44.04 points, to 15749.15, while the Topix index of all first-section shares added 0.08%, or 0.98 points, to 1299.62.

The yen's depreciation was largely driven by growing expectations that the Bank of Japan will soon unveil further monetary easing measures to counter the downturn in the world's number three economy after Japanese consumer confidence figures, released on Tuesday, has fallen to its lowest level since April when a sales tax hike slammed the brakes on growth. In the afternoon the dollar bought 106.23 yen, compared with 106.03 yen in New York Monday. A weaker yen inflates the profitability of Japanese exporters.

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