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apan’s Nikkei share index hit yet another 15-year high on Tuesday after rising for the fifth day in a row.

The move came as the yen weakened against the dollar amid speculation about what US Federal Reserve chair Janet Yellen might say regarding rate rises in the US later in the day.

Tokyo’s benchmark Nikkei 225 closed up 0.74% at 18,603.48.

A weaker yen helps big exporting firms in Japan because it makes their goods cheaper overseas.
The dollar rose to 119.22 yen compared with 118.76 yen in New York trading.

Shares in Hitachi fell 0.8% following reports that the company was about to buy the rail business from Italy’s Finmeccanica. The deal was confirmed after the market had closed.

In Hong Kong, the Hang Seng index closed down 0.35% at 24,750.07. Markets in the rest of China continued to remain shut for the Chinese New Year holidays.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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