http://sxc.hu/

Tokyo stocks soared 2.30 percent to close at their highest level in more than six months on Wednesday as the Bank of Japan's credit easing sent the yen lower, boosting exporters's shares.

The Nikkei 225 index at the Tokyo Stock Exchange gained 208.27

points to 9,260.34, the best finish since August 5, while the Topix index of all first-section issues jumped 2.05 percent, or 16.16

points, to 802.96.

“The yen is trending weaker and the Bank of Japan's monetary easing continues having effects,” said Yoshihiro Okumura, general manager at Chibagin Asset Management.

The weaker yen raised expectations for an earnings recovery at Japanese firms in the coming fiscal year, said Yutaka Shiraki, senior equity strategist at Mitsubishi UFJ Morgan Stanley Securities.

“Sales and forex rates have been seen as the key to earnings recovery for the next year,” he told Dow Jones Newswires. “Lights are seen at the end of the tunnel for the two matters.”

On Tuesday, the Bank of Japan said it will pump $130 billion more into the ailing economy, the latest push to combat stubborn deflation that has plagued the country for over a decade.

The dollar rose to 78.67 yen at one point Wednesday morning - its highest level since November 1 - from 78.44 yen late Tuesday in New York, before easing slightly to sit at 78.48 yen.

SMBC Nikko Securities strategist Masashi Akutsu said: “The weaker yen is benefiting exporters, including autos, while hopes for further easing are lifting cyclical stocks such as real estate and financials.”

Among major exporters Toyota Motor surged 4.64 percent to 3,265 yen and Sony shot up 5.70 percent to 1,575 yen.

Realtor Mitsui Fudosan rose 4.74 percent to 1,436 yen and brokerage Nomura Holdings gained 5.36 percent to 334 yen.

Elpida Memory tumbled 14.43 percent to 320 yen - having dived more than 21.0 percent at one point - after the debt-ridden microchip maker admitted “uncertainty” over its ability to continue as a going concern. - Sapa-AFP