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Japan's Nikkei rises on Wall Street strength, weaker yen
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Japan's Nikkei rises on Wall Street strength, weaker yen
Nov 9, 2024 11:48 AM

TOKYO, Nov 7 (Reuters) - Japan's Nikkei share average

traded higher on Thursday, tracking Wall Street's strong finish

overnight, with sentiment lifted by a weaker yen.

The Nikkei was up 0.93% at 39,847.15 as of 0007 GMT,

while the broader Topix jumped 1.66% to 2,761.13.

U.S. stocks rallied sharply to close at record highs on

Wednesday after Republican Donald Trump won the 2024 U.S.

presidential election in a stunning comeback four years after

being voted out of the White House.

The U.S. dollar soared to a four-month high on Wednesday

after Trump's win. The dollar was last flat 1.X% at 154.6

.

A weaker yen tends to boost Japanese exporters' overseas

earnings when repatriated.

Chip-testing equipment maker Advantest ( ADTTF ) rose 1.14%

to give the biggest boost to the Nikkei.

Home interior goods maker and retailer Nitori Holdings ( NCLTF )

, which imports most of its materials from overseas,

fell 4.84% to weigh on the Nikkei the most.

Banking shares rose, with Sumitomo Mitsui Financial Group ( SMFG )

up 6.08% and Mitsubishi UFJ Financial Group ( MUFG )

rising 4.9%.

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