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Japanese stocks climbed higher early Monday, extending gains
for a fourth straight session on new economic data showing bolstered
business confidence. The dollar was higher against the yen.
The Nikkei 225 index rose 141.32 points, or 0.88 percent, to 16,268.90
at the finish of morning trading on the Tokyo Stock Exchange.
The broader Topix index, which includes all shares on the exchange's
first section, added 12.04 points, or 0.75 percent, to 1,622.77.
Sentiment got a boost from the release of the Bank of Japan's quarterly
"tankan" business survey, which showed that corporate confidence had
increased in September from three months earlier.
The tankan index rose to 24 from 21 points, outperforming forecasts.
Optimism is growing in part because of the weaker yen, which makes
Japanese exports less expensive and more competitive abroad, the report
said. A cheaper yen also boosts the overseas earnings of Japan's
exporters when they convert dollar sales to yen.
In currencies, the U.S. dollar was trading at 118.35 yen on the Tokyo
foreign exchange market at 11 a.m. (0200 GMT) Monday, up from 118.11
yen late Friday in New York. The euro fell to US$1.2670, from US$1.2678.
The yield on Japan's 10-year government bond rose to 1.7350 percent
from Friday's finish of 1.6650 percent. Its price fell to 99.70 from
100.29.
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