Japanese shares soared on Wednesday for the second consecutive day of rise as the market sentiment was bolstered by overnight gains in Wall Street and better-than-estimated Chinese economic data.
The benchmark Nikkei 225 Stock Average gained 420.87 points or 3.01 per cent to end at 14,417.68, while the broader-based Topix index was up 30.46 points or 2.68 per cent at 1,166.55.
Exporters traded higher as the yen fell against major currencies. A weaker yen makes Japanese goods more competitive overseas and improves the repatriated revenues.
On Tuesday, the US Dow Jones Industrial Average rose 0.6 per cent.
The Chinese Government said on Wednesday that the country’s economic growth slowed to 7.4 per cent year-on-year in the first quarter of this year, but slightly higher than many forecasts.
In Tokyo, on currency markets at 3 p.m. (0600 GMT), the dollar traded at 102.25-29 yen, up from Tuesday’s 5 pm quote of 101.79-80 yen.
The euro was quoted at 141.38-41 yen, up from 140.48-49 yen late Tuesday, and at $1.3828-3829, up from $1.3800-3802.