Nikkei rises to 8-month high as yen weakens to six-year low

Japanese share market closed at fresh eight-months high on Thursday, 11 September 2014, as yen depreciation to weakest level since 2008 against the dollar bolstered appetite for export related shares. The benchmark Nikkei 225 index at the Tokyo Stock Exchange gained 0.76%, or 120.42 points, to finish at 15909.20, its best finish since early January, while the Topix index of all first-section shares added 0.34%, or 4.45 points, to 1311.24.

The yen extended its depreciating streak, trading nearly at six-year low in against the greenback on speculation that the U.S. Federal Reserve could soon raise rates. Higher interest rates would dent demand for safe-haven units such as yen. The Japanese yen lost 0.1% to 106.93 per dollar in mid-afternoon after touching the lowest since September 2008.

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