Stocks up in Tokyo

Stocks in Tokyo were up on Wednesday as investors took advantage of the yen’s weakness against the US dollar, as well as the fall in crude oil pricess.

Toyota was up 0.8 percent to ¥3,920, while Canon advanced by 0.3 percent to ¥5,890.

Shares in oil companies lost value however with the drop in the price of oil. Japan Petroleum Exploration was down 2.1 percent to ¥4,640, while gas and oil project developer AOC declined by 3.7 percent to ¥1,627.

In the banking sector, meanwhile, Mitsubishi Tokyo Financial Group was up by 1.4 percent to ¥939,000 and UFJ gained 1.2 percent to ¥576,000 on the news that shareholders had approved the merger of the two companies.

Taking all this activity into consideration, the Nikkei 225 gained 0.6 percent to 11,577.44, its highest level in 11 weeks, while the Topic index rose by 0.5 percent to 1,176.48.

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