Nikkei Back Near 15700 Buoyed by Strong U.S. Retail Sales

Tokyo’s Nikkei stock average rebounded from a one-month low on Wednesday as a robust U.S. retail sales report helped ease concerns about the pace of
growth in the world’s largest economy – one of Japan’s top trading partners.

The upbeat U.S. data also lifted the dollar from a four-week low against the yen, giving currency-sensitive Japanese exporters, such as Toyota Motor Corp and Sony Corp, a fillip.

A softer yen strengthens the competitiveness of Japanese exporters abroad and their dollar earnings when repatriated.   The Nikkei was up 1.4 percent at 15,638.95 in mid-morning trade after tumbling 3.1 percent on Tuesday, its biggest one-day decline in five months, while the yen was quoted at 104.135 per dollar, having fallen 1.2 percent overnight.


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