Nikkei up on Wall Street lead

Tokyo stocks were also boosted by a weaker yen.

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By :  ,  Financial Analyst

Japanese shares traded higher today (January 30th), boosted by a Wall Street rally and a weaker yen.

The Dow Jones industrial average gained one per cent yesterday after a rebound in crude oil prices and the release of upbeat earnings reports from US companies. The yen’s depreciation against the dollar also boosted sentiment.

Asian investors shrugged off a series of weak fresh data showing that in December, Japan's inflation rose 2.5 per cent from a year earlier, which is below expectations.

Growth in factory output was also below forecast, up one per cent from the previous month, while household spending fell more than anticipated, down 3.4 per cent on a year ago.

However, Japan's jobless rate fell to 3.4 per cent from 3.5 per cent in November.

The Nikkei closed 0.4 per cent up at 17,674.39, while the Topix finished 1.49 points higher at 1,415.07.

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