Nikkei Grabs a 7-week Closing High as Yen Assists, BOJ eyed
Nikkei Grabs a 7-week Closing High as Yen Assists, BOJ eyed

Japan's Nikkei average hit its highest close in seven weeks on Friday, with exporters helped by speculation that the yen may weaken if the Bank of Japan takes additional steps to ease monetary policy next week.

"The risk of a strong yen appears to be receding as the Bank of Japan is expected to move toward more monetary easing, increasing demand for shares of exporters," said Kenichi Hirano, operating officer at Tachibana Securities.

Japan's Nikkei stock index registered a climb Thursday touching a seven-week high, triggered by gains in exporters on a weak yen, and expectations for an economic recovery amidst a report the government will upgrade its economic assessment for the first time in eight months.

Hitachi witnessed a climb of nearly 2 percent following its incoming president announcement that he had no plans to initiate an additional capital rising, and that the electronics conglomerate must return to profit at any cost in the year starting in April.

The benchmark Nikkei fetches a 0.8 percent climb to 10,751.26, its highest level since January 21, while the broader Topix added 0.6 percent to 936.38.

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