Nikkei snaps 6-session losing streak as yen's rise pauses

  • Reuters
  • Stock Market News
Nikkei snaps 6-session losing streak as yen's rise pauses
Credit: © Reuters.

By Joshua Hunt

TOKYO, May 9 (Reuters) - Japanese stocks rose on Monday, snapping a six-session losing streak that trimmed 8.6 percent from the benchmark Nikkei index, after the yen's surge against the dollar came to a halt.

The Nikkei share average .N225 ended 0.7 percent higher at 16,216.03 as a firmer dollar kept the yen's recent strength in check, calming fears over exporters' earnings. The greenback climbed to 107.6 yen late in the session, easing away from last week's 18-month low of 105.55. of Ono Pharmaceutical Co Ltd 4528.T climbed 3.7 percent after the company raised its earnings forecast for the full year through March 2016. Topix subindex for retailers .IRETL.T added 2.3 percent, while the real estate sector .IRLTY.T gained 1.8 percent.

The broader Topix .TOPX rose 0.6 percent to 1,306.66, with all but 11 of its 33 subindexes in positive territory.

The JPX-Nikkei Index 400 .JPXNK400 climbed 0.6 percent to 11,812.58.

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