Japanese shares have climbed past the 15,000 mark for the first time since January 2008, as the yen continues to weaken – boosting the earnings potential for exporters.
On Wednesday, the benchmark Nikkei index rose 2.3% to 15,096, with carmaker Toyota and electronics giant Sony leading the gains.
The Nikkei is up 46% since the start of 2013.
Japan’s central bank has embarked on an aggressive plan to weaken the yen.
A weaker Japanese currency translates into higher earnings for companies when the funds are repatriated back into the country. It also makes their products more competitive overseas.
The yen is at a four-and-a-half year low against the US dollar, trading at about the 102 mark in Asia.
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