Business News

TOKYO, July 11, (APP/AFP) – Japanese stocks ended higher Tuesday
as investors waited for fresh clues on the global economy and US central bank policy with Federal Reserve boss Janet Yellen’s testimony later in the week in focus.
The top US central banker on Wednesday will update lawmakers on the
outlook for the economy and her expectations for additional interest rate increases in a twice-annual appearance before Congress.
Dealers remain upbeat after surprisingly strong US jobs data Friday
that analysts said has put the Federal Reserve on course for at least one more hike this year, boosting the dollar.
Investors are also eyeing the start of the US corporate earnings
season.
“As investors in global markets are seen taking to the sidelines
awaiting fresh clues, there is no clear direction” in Tokyo trading, Toshihiko Matsuno, senior strategist at SMBC Friend Securities, told Bloomberg News.
The dollar strengthened to 114.42 yen, up from 114.14 yen in New
York. A weaker yen inflates the profitability of Japan’s exporters.
Tokyo’s benchmark Nikkei 225 index gained 0.57 percent, or 114.50
points, to 20,195.48, while the Topix index of all first-section issues advanced 0.72 percent, or 11.66 points, to 1,627.14.