Japanese shares rose as the yen’s recent weakness aided the country’s exporters, taking the center stage in Asia following a muted session on Wall Street.
The MSCI Asia Pacific index climbed for the fifth straight day, its longest such streak since July.
Shares in Tokyo advanced after the yen dropped to a five-month low of 158 per dollar in the previous session, following Bank of Japan Governor Kazuo Ueda’s comments Wednesday that avoided giving a clear signal on interest rates next month.
The Japanese currency rebounded slightly Friday, after Finance Minister Katsunobu Kato said the government will take appropriate steps against excessive movements in the foreign exchange market.
Data released Friday also showed inflation in Tokyo accelerated for a second month, with retail sales also beating estimates. Japan’s latest economic performance suggests the need for the BOJ to keep considering tightening policy in the coming months.
