Nikkei 225 Rises 0.74% On Softer Yen, Overnight Wall Street Gains

The Nikkei 225 Wednesday rose 0.74% after overnight gains on Wall Street and the yen traded down against the U.S. dollar, regarded as a positive in export-oriented Japan. Financial stocks, especially brokerages, gained on prospects for more investment and trading income in 2017. Shares of diversified tech-finance shop SoftBank (SFTBF, 5202:Tokyo) rose to their highest level in more than a year, up 6.2% after CEO Masayoshi Son held a meeting with U.S. president-elect Donald Trump, saying he would invest $50 billion in U.S. businesses.

The benchmark Nikkei 225 opened higher and never gave back much through morning and afternoon sessions, rising 136.15 to 18,496.69, as gaining shares outnumbered losers 165 to 52.

Leading the upside were Nippon Sheet Glass (NPSGF, 5202:Tokyo), up 9.5%; followed by utility Tokyo Electric Power, aka Tepco (TKECF, 9501:Tokyo), up 6.8%; and then Softbank.

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