TOKYO, Feb 6 (Reuters) - Japan's Nikkei share average
rose on Monday to its highest in more than seven weeks, as a
weaker yen boosted exporters like automakers and trading firms
surged on robust earnings outlook.
The Nikkei had jumped 1.06% to 27,801.97 by the
midday break, touching its highest since Dec. 15. The broader
Topix was up 0.61% at 1,982.28.
The yen weakened to a three-week low after a report Bank of
Japan Deputy Governor Masayoshi Amamiya was being sounded out to
be the next governor and strong U.S. jobs data suggested the
Federal Reserve could stay hawkish for longer. "The yen weakened and the U.S. economy looks firm, which is
the best scenario for Japanese exporters," said Jun Morita,
general manager of the research department at Chibagin Asset
Management.
The auto industry index jumped 2.11%, with Toyota
Motor and Honda Motor rising 1.88% and 2.75%,
respectively. Mitsubishi Motors jumped 5.97%.
Trading firms rose 2.67% to become the best
performer among the 33 industry sub-indexes, after Mitsui & Co and Mitsubishi Corp lifted their full-year
profit forecasts and promised to pay higher dividends.
Mitsubishi Corp surged 7.84% to become the best performer on
the Nikkei. Sumitomo Corp rose 3.79% and Mitsui gained
0.86%.
Fast Retailing , the owner of Uniqlo brand, rose
3.03% and was the biggest boost to the Nikkei. Phone company
KDDI rose 1.56% and auto parts maker Denso jumped 4.42%.
All but two sub-indexes rose. The Insurance sector lost 0.44% and the banking sector slipped 1.86%.
Of the Nikkei components, 193 advanced, 29 fell and three
traded flat.
(Reporting by Junko Fujita; Editing by Subhranshu Sahu)
