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    Asia: Weak yen drives demand for exporters

    RELATED QUOTES

    SymbolPriceChange
    CAJFF.PK42.240.00
    GS95.490.00
    ^N2258,633.8922.58
    KDDIF.PK6,628.7740.00
    0001.HK91.850.15

    LONDON (ShareCast) - The Nikkei traded in positive territory, despite losses elsewhere among Asian markets on Thursday, as the weaker yen sparked interest in exporters such as Nintendo. The dollar remained above the key ¥80 level and the euro held ¥106. Shares in the games giant surged 4% while camera maker Canon (Other OTC: CAJFF.PK - news) , which makes nearly half of its sales overseas, rose nearly 1% in Tokyo. Sharp rose 2.7% and Nissan gained 1.6%. The benchmark Nikkei 225 (Osaka: ^N225 - news) index closed up 41 points at 9,595 in Tokyo while the Hang Seng (HKSE: ^HSI - news) declined 168 points at 21,380. Chip maker Elpida soared 13% after reports that Goldman Sachs (NYSE: GS - news) and Credit Suisse (NYSEArca: CSMA - news) both increased their holdings in the firm to over 5%. Shares of Elpida have fallen sharply in the last year on fears that it may go bankrupt. Elsewhere Mazda tanked 7% after it said may sell around ¥160bn in new shares and borrow ¥70bn as it faces losses of ¥100bn. Mobile phone carrier KDDI (Other OTC: KDDIF.PK - news) lost 2% after broker Nomura slashed the firm's rating to "neutral" from "buy". Financials (Euronext: IXEFI.NX - news) were mostly lower in Tokyo and Hong Kong. Lending giant Mitsubishi UFJ Financial fell 0.5% while HSBC (LSE: HSBA.L - news) dropped 1.5% and Bank of China fell 1.18%. Airlines Cathay Pacific Airways fell 3% while real estate also moved out of favour, following yesterday's gains. Henderson Land Development fell 2% and Cheung Kong (HKSE: 0001.HK - news) declined 2.8%.

     

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