admin July 18, 2018

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Japanese stocks get a boost from a weaker yen which will help exporters.

Stocks in Asia recovered from their weakness to advance Wednesday while Japan’s Nikkei continued to rally as the yen remained weak against the U.S. dollar.

Chinese and Hong Kong shares posted relatively robust gains following recent losses with the Shanghai Composite

SHCOMP, +0.16%

 up 0.4% and Hong Kong’s Hang Seng

HSI, -0.07%

 also rising 0.4%.

The Wall Street Journal reported that Hong Kong and Chinese stock exchanges are working on a system to allow investors in China to buy and sell shares of companies with supervoting equity via the Stock Connect link.

Japan’s Nikkei

NIK, +0.62%

 extended its rally to climb 1% on the back of a weak yen which is expected to help the country’s exporters. The dollar

USDJPY, +0.12%

 last bought 112.94 yen versus ¥112.86 earlier.

Stocks in other major Asian markets were also higher.

Korea’s Kospi

SEU, -0.17%

 added 0.2%, shrugging off news that the Korean government projects 2018 economic growth to slow to 2.9% versus 3.1% in 2017. Seoul blamed the country’s shrinking workforce as well as weaker overseas demand for Korean automobiles and ships for the softer growth forecast, according to Dow Jones Newswires.

Australia’s S&P/ASX 200

XJO, +0.59%

 gained 0.7% and Taiwan’s Taiex

Y9999, +0.59%

 climbed 0.6%.

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