"I don't think many people will choose to buy exporters today with the yen rising a bit, which means more appetite for shares tied to domestic demand"
- Takashi Ito, Strategist Equity Market at Nomura Securities Co.
The Nikkei 225 Stock Average (NKY) climbed as the IMF raised Japan's growth forecast to 2.4%. However, gains were limited due to unexpected decline of US retail sales and the Yen strengthening against the US Dollar to one-month high. The Nikkei 225 gained 0.6% to 8,779.32.
"I don't think many people will choose to buy exporters today with the yen rising a bit, which means more appetite for shares tied to domestic demand," said Takashi Ito, Strategist Equity Market at Nomura Securities Co. "Earnings season will start in earnest in Japan next week, and investors don't want to make a big move for now."
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