Sluggish Yen boosts Japanese stock market

Source: WBP Online
© Scanpix/Reuters
After the anticipated Jackson Hole Symposium over this weekend, the Fed Chairman Janet Yellen announced a possible federal fund rate increase before the previously established schedule. As a result, the Yen slipped against the Greenback and the pair is now trading at ¥104.24. The weak Yen had a positive effect on the Japanese stock market, pushing Nikkei 225 index up by 0.48% to 15,613.25 points; Topix inched up 0.45% to end at 1,291.38 points. Additionally, Japanese corporations, such as Pioneer, Casio Computers and Alps Electric, experienced a rally of over 3.2%.
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