Nikkei Rises to Two-Week High on Weak Yen
Tokyo: Japanese shares rose to a two-week high on Friday as the weaker yen lifted exporters, while renewed fears about the spread of the Ebola virus in the United States bolstered Ebola-related stocks such as Fujifilm Holdings Corp.
The Nikkei share average ended 1.0 per cent higher at 15,291.64 - the best closing level since October 10.
For the week, the index gained 5.2 per cent.
Tokyo-listed shares in firms manufacturing Ebola-related products jumped in response to news that a New York City doctor who had worked with the humanitarian organization Doctors Without Borders in Africa became the first person to test positive for the virus in America's largest city.
Air filter manufacturer Airtech Japan Ltd leapt 17 per cent, while health protection device maker Shigematsu Works Co Ltd soared 10 per cent.
Fujifilm, which makes the Avigan drug hoped to be a potential cure for the deadly virus, also rose 2.5 per cent.
The yen was at 107.97 against the dollar, pulling away from two-week lows hit early on Friday as US stock futures tumbled on reports of the New York Ebola diagnosis.
The depreciation of the Japanese currency helped export shares, with Toyota Motor Corp jumping 1.8 per cent and Tokyo Electron Ltd rising 1.2 per cent.
The broader Topix rose 0.8 per cent to 1,242.32, while the JPX-Nikkei Index 400 also advanced 0.9 per cent to 11,308.95.
Copyright @ Thomson Reuters 2014
