Tokyo stocks edge up as eurozone fears recede, yen weakens (3)

08:45, June 01, 2010      

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Exporters benefit from a weaker yen as it boosts their competitiveness in foreign markets and profits aren't eroded when repatriated.

Trade was sluggish from the off as news from Japan's trade ministry showing that industrial production rose a seasonally adjusted 1.3 percent in April from a month earlier, did little to inspire buying, despite brokers indicating that global market's relative calm probably meant the Nikkei was ready for a self- sustained rebound.

Additionally, political uncertainty following the Social Democratic party leaving Japan's ruling coalition was brushed off Monday by investors, despite the likelihood of more political turbulence due ahead of upper house elections this July, which may effect investors' choice of the currency as a safe haven, analysts said.


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(Editor:黄蓓蓓)

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