Nikkei snaps 6-session losing streak as yen's rise pauses

  • Reuters
  • Stock Market News
Nikkei snaps 6-session losing streak as yen's rise pauses

By Joshua Hunt
TOKYO, May 9 (Reuters) - Japanese stocks rose on Monday,
snapping a six-session losing streak that trimmed 8.6 percent
from the benchmark Nikkei index, after the yen's surge against
the dollar came to a halt.
The Nikkei share average .N225 ended 0.7 percent higher at
16,216.03 as a firmer dollar kept the yen's recent strength in
check, calming fears over exporters' earnings. The greenback
climbed to 107.6 yen late in the session, easing away from last
week's 18-month low of 105.55.
Shares of Ono Pharmaceutical Co Ltd 4528.T climbed 3.7
percent after the company raised its earnings forecast for the
full year through March 2016.
The Topix subindex for retailers .IRETL.T added 2.3
percent, while the real estate sector .IRLTY.T gained 1.8
The broader Topix .TOPX rose 0.6 percent to 1,306.66, with
all but 11 of its 33 subindexes in positive territory.
The JPX-Nikkei Index 400 .JPXNK400 climbed 0.6 percent to

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