A 3% stock rally Friday has pushed Japan’s Nikkei to its highest close in five years and the best week since the end of 2009.
The rise came a day after the dollar broke the ¥100 mark for the first time in four years. The Japanese currency continued to fall in value Friday, hitting ¥101.7 after the close of Asian markets
The weaker yen is providing a boost to the earnings of Japanese exporters such as Toyota Motor, which reported its net income more than tripled in its most recent fiscal year and projected a 42% rise in earnings in the year ahead. Toyota (TM) shares rose 5% in Tokyo trading Friday.
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