"It's huge fuel for Japanese exporters if the yen can maintain or continue to depreciate"
- Tim Schroeders, a fund manager at Pengana Capital Ltd.
Japanese stocks closed mixed on Monday. The yen touched 81.67 versus dollar, the lowest level since May 31.
The Nikkei 225 slid 0.14%, or 13.45 points, to 9,633.93. The broader Topix rose 0.12%, or 0.96, to 835.25.
"It's huge fuel for Japanese exporters if the yen can maintain or continue to depreciate," said Tim Schroeders, who helps manage $1 billion in equities at Pengana Capital Ltd. in Melbourne.
"I think the downside risk has mitigated and as a result investors are happier to embrace a more positive outlook."
© Dukascopy Bank