Asia Markets: Japan stocks jump as dollar tops ?100

By V. Phani Kumar, MarketWatch

HONG KONG (MarketWatch) ? Japanese stocks were propelled higher Friday after the U.S. dollar climbed atop the 100-yen level for the first time in four years, stoking sharp gains in exporters.

Most other regional markets also rose, although gains were capped as stocks on Wall Street dropped overnight, taking a breather after key U.S. benchmarks closed at record highs on multiple occasions recently.

/quotes/zigman/4868099/sampled USDJPY 101.6250, +1.0289, +1.0228%
/quotes/zigman/5986735 NIK 14,607.54, +416.06, +2.93%

Dollar-Yen Vs. Nikkei Stock Average

Six-month price chart

Japan?s Nikkei Stock Average /quotes/zigman/5986735 JP:NIK +2.93% ?finished the day 2.9% higher at 14,607.54, clinching a weekly gain of 6.7%. The broader Topix /quotes/zigman/1652094 JP:I0000 +2.43% ?gained 2.4% to 1,210.60. The surge came as the dollar overcame stiff resistance seen in the last few weeks to climb over the psychologically important ?100 level overnight in the U.S.

?With Japan at the beginning of its two-year expansion project, any talk of the U.S. winding back its stimulus will see the yen continue to weaken again the [dollar],? said IG Markets strategist Evan Lucas.

?The 2% inflation target domestically is all the Bank of Japan is after, and it will continue to ramp up stimulus measures if this does not occur fast enough, which will push the pair higher,? Evans said.

After breaking past the ?100 barrier in U.S. trade, the dollar /quotes/zigman/4868099/sampled USDJPY +1.0228% rallied further in the Asian session, and was fetching ?101.30 by late afternoon in Hong Kong. Late Thursday in North America, the greenback was buying ?100.48.

Shares of companies with a significant international presence got a boost on expectations the weakened yen would provide them a competitive edge and increase their repatriated profits.

Casio Computer Co. /quotes/zigman/192175 JP:6952 +3.27% ? /quotes/zigman/192519/quotes/nls/csioy CSIOY +4.86% , Panasonic Corp. /quotes/zigman/194943 JP:6752 +3.74% /quotes/zigman/15515696/quotes/nls/pcrfy PCRFY -0.27% ,?Komatsu Ltd. /quotes/zigman/194546 JP:6301 +3.76% /quotes/zigman/194552/quotes/nls/kmtuf KMTUF +6.51% and Japan Tobacco Inc. /quotes/zigman/140130 JP:2914 +3.38% /quotes/zigman/140138/quotes/nls/japaf JAPAF -1.77% ?all climbed 3% or more.

Currency-sensitive car-maker shares saw particularly strong gains, with Mazda Motor Corp. /quotes/zigman/195040 JP:7261 +7.23% /quotes/zigman/527479/quotes/nls/mzday MZDAY +0.53% rising 7.2%, Nissan Motor Co. /quotes/zigman/196473 JP:7201 +3.00% /quotes/zigman/202910/quotes/nls/nsany NSANY +2.07% up 3%, Mitsubishi Motors Corp. /quotes/zigman/200115 JP:7211 +5.22% ? /quotes/zigman/200120/quotes/nls/mmtof MMTOF -0.83% ?adding 5.2%, and Subaru maker Fuji Heavy Industries Ltd. /quotes/zigman/192845 JP:7270 +11.30% ? /quotes/zigman/192850/quotes/nls/fujhf FUJHF +3.89% ?jumping 11.3%.

Trend Micro Inc. /quotes/zigman/227667 JP:4704 +17.80% /quotes/zigman/287272/quotes/nls/tmicy TMICY +1.32% ?soared 17.8% after announcing a sharp growth in quarterly profit.

Nikon Corp. /quotes/zigman/195445 JP:7731 +14.57% ? /quotes/zigman/200723/quotes/nls/ninoy NINOY +5.89% ?spiked 14.6%, catching an additional bid a day after issuing a better-than-expected earnings forecast.

Sony Corp. /quotes/zigman/197500 JP:6758 +2.47% ? /quotes/zigman/197524/quotes/nls/sne SNE +0.78% ?added 2.5%, after it posted its first annual profit in five years.

Suzuki Motor Corp. /quotes/zigman/197979 JP:7269 +7.53% /quotes/zigman/527614/quotes/nls/szkmy SZKMY +0.92% ?gained 7.5% after it reported a record profit for the financial year ended March 31.

Renesas Electronics Corp. /quotes/zigman/326601 JP:6723 +3.02% ? /quotes/zigman/593649/quotes/nls/rnecy RNECY +5.71% ?gained 3% despite reporting a wider annual loss, after the Nikkei newspaper cited a top company official as saying the firm was currently drawing up turnaround plans.

/quotes/zigman/5986735

JP : Nikkei Idx

Volume: 0.00

May 10, 2013 3:00p

/quotes/zigman/1652094

JP : Japan: Tokyo

Volume: 0.00

May 10, 2013 3:00p

/quotes/zigman/4868099/sampled

US : ICAP Currencies

101.6250

+1.0289 +1.0228%

Volume: 0.0000

May 10, 2013 7:48a

/quotes/zigman/192175

JP : Japan: Tokyo

Volume: 4.89M

May 10, 2013 3:00p

Market Cap

?229.63 billion

Rev. per Employee

?25.53M

/quotes/zigman/192519/quotes/nls/csioy

US : U.S.: OTCBB

Volume: 500.00

May 9, 2013 2:05p

/quotes/zigman/194943

JP : Japan: Tokyo

Volume: 22.67M

May 10, 2013 3:00p

Market Cap

?1800.54 billion

Rev. per Employee

?22.13M

/quotes/zigman/15515696/quotes/nls/pcrfy

US : U.S.: OTCBB

Volume: 155,215

May 9, 2013 3:57p

Rev. per Employee

$276,791

/quotes/zigman/194546

JP : Japan: Tokyo

? 2,785.00

+101.00 +3.76%

Volume: 8.40M

May 10, 2013 3:00p

Market Cap

?2681.98 billion

Rev. per Employee

?42.64M

/quotes/zigman/194552/quotes/nls/kmtuf

US : U.S.: OTCBB

Volume: 300.00

May 8, 2013 12:00a

/quotes/zigman/140130

JP : Japan: Tokyo

? 3,675.00

+120.00 +3.38%

Volume: 8.26M

May 10, 2013 3:00p

Market Cap

?7200.00 billion

Rev. per Employee

?44.56M

/quotes/zigman/140138/quotes/nls/japaf

US : U.S.: OTCBB

Volume: 3,659

May 9, 2013 3:50p

/quotes/zigman/195040

JP : Japan: Tokyo

Volume: 291.01M

May 10, 2013 3:00p

Market Cap

?1007.79 billion

Rev. per Employee

?58.62M

/quotes/zigman/527479/quotes/nls/mzday

US : U.S.: OTCBB

Volume: 1,000

May 9, 2013 3:45p

/quotes/zigman/196473

JP : Japan: Tokyo

? 1,063.00

+31.00 +3.00%

Volume: 27.93M

May 10, 2013 3:00p

Market Cap

?4606.61 billion

Rev. per Employee

?58.61M

/quotes/zigman/202910/quotes/nls/nsany

US : U.S.: OTCBB

Volume: 40,275

May 9, 2013 3:58p

Rev. per Employee

$731,985

/quotes/zigman/200115

JP : Japan: Tokyo

Volume: 126.97M

May 10, 2013 3:00p

Market Cap

?716.79 billion

Rev. per Employee

?58.98M

/quotes/zigman/200120/quotes/nls/mmtof

US : U.S.: OTCBB

Volume: 100.00

May 9, 2013 1:13p

/quotes/zigman/192845

JP : Japan: Tokyo

? 2,157.00

+219.00 +11.30%

Volume: 19.89M

May 10, 2013 3:00p

Market Cap

?1485.88 billion

Rev. per Employee

?70.53M

/quotes/zigman/192850/quotes/nls/fujhf

US : U.S.: OTCBB

Volume: 200.00

May 9, 2013 11:10a

Market Cap

$1485.88 billion

/quotes/zigman/227667

JP : Japan: Tokyo

? 3,335.00

+504.00 +17.80%

Volume: 2.52M

May 10, 2013 3:00p

Market Cap

?396.47 billion

Rev. per Employee

?18.27M

/quotes/zigman/287272/quotes/nls/tmicy

US : U.S.: OTCBB

Volume: 7,857

May 9, 2013 3:55p

Rev. per Employee

$228,524

/quotes/zigman/195445

JP : Japan: Tokyo

? 2,500.00

+318.00 +14.57%

Volume: 14.92M

May 10, 2013 3:00p

Market Cap

?879.13 billion

Rev. per Employee

?40.26M

/quotes/zigman/200723/quotes/nls/ninoy

US : U.S.: OTCBB

Volume: 23,401

May 9, 2013 3:56p

/quotes/zigman/197500

JP : Japan: Tokyo

? 1,787.00

+43.00 +2.47%

Volume: 39.63M

May 10, 2013 3:00p

Market Cap

?1789.13 billion

Rev. per Employee

?40.98M

/quotes/zigman/197524/quotes/nls/sne

US : U.S.: NYSE

Volume: 3.57M

May 9, 2013 4:01p

Rev. per Employee

$510,658

/quotes/zigman/197979

JP : Japan: Tokyo

? 2,785.00

+195.00 +7.53%

Volume: 4.69M

May 10, 2013 3:00p

Market Cap

?1456.48 billion

Rev. per Employee

?46.56M

/quotes/zigman/527614/quotes/nls/szkmy

US : U.S.: OTCBB

Volume: 2,300

May 9, 2013 2:17p

/quotes/zigman/326601

JP : Japan: Tokyo

Volume: 1.73M

May 10, 2013 3:00p

Market Cap

?126.81 billion

Rev. per Employee

?18.93M

/quotes/zigman/593649/quotes/nls/rnecy

US : U.S.: OTCBB

Volume: 200.00

May 9, 2013 9:41a

Source: http://feedproxy.google.com/~r/marketwatch/software/~3/yOcWUrUmskQ/story.asp

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