Japan stocks rally higher

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Japan stocks rally higher
from MarketWatch.com - MarketPulse
LOS ANGELES (MarketWatch) -- Japan stocks surged in early Friday trading as the yen extended its downward march overnight, with the dollar topping ¥81 and the euro about ¥103. The Nikkei Stock Average jumped 1.2%to 8,938.71, with the Topix up 1%, as currency-sensitive exporter shares again led the gains, shrugging off mild stock losses in the U.S. Among the computer and electronics names, Sony Corp. climbed 2.1%, Canon Inc. jumped 3.6%, Advantest Corp. rose 2.7%, and Panasonic Corp. added 2.3%. Car makers also got a sharp boost from the yen's decline, with Toyota Motor Corp. up 1.9%, Nissan Motor Co. ahead by 3.1%, and Mazda Motor Corp. -- shares of which tend to move closely with the euro -- soared 6.2%. Among other big gainers, Daiwa Securities Group Inc. added 2.8%, Aozora Bank Ltd. rallied 4.3%, and Bridgestone Corp. rose 3%. The yen's rapid decline came as Japanese opposition leader Shinzo Abe -- a favorite to win the prime minister's office in elections expected for mid Decemeber -- called for "unlimited" monetary easing.