Nikkei rises 2 pc, as yen helps exporters

Tokyo, Aug 23: The Nikkei share average got off to a strong start on Thursday, rising 2 per cent in the opening minutes of trade as exporters such as Toyota Motor Corp gained on a softer yen while higher commodity prices pushed up nonferrous stocks.

The broader TOPIX index also rose more than 2 percent, helped by gains in shipping and steel stocks.

The yen extended a slide against the dollar and higher-yielding currencies as gains in U.S. equities soothed worries of further risk aversion and unwinding of carry trades.

The Nikkei climbed 2.13 percent, or 338.93 points, to 16,239.57 as of 0008 GMT, while the broader TOPIX index rose 2.14 percent to 1,577.99.

Reuters>