Business Standard ·
Economy, business and finance
Japanese stocks extend gains as weaker yen lifts exporters
The gains came after the US Federal Reserve delivered an expected interest rate hike while signaling further tightening to keep inflation under control. The yen weakened against the US dollar following the decision, which supported the outlook for Japanese exporters.
Lower oil prices also helped sentiment, as investors expected crude flows through Saudi Arabias East-West pipeline to resume soon. This eased concerns about higher energy costs for Japan, which relies heavily on imported oil.
Gains were broad-based, with SoftBank Group up 1%, Fujikura and Lasertec each gaining 0.6%, while Mitsubishi Heavy Industries jumped 4% and Nintendo rose 4.3%.
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