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Tokyo shares finish increased over yield rises, weaker yen

TOKYO, July 31 (Xinhua) — Tokyo shares ended increased Monday as export-related shares have been boosted by a weak yen, whereas 10-year Japanese authorities bond yields surged to a nine-year-high.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, superior 412.99 factors, or 1.26 %, from Friday to shut at 33,172.22.

The broader Topix index completed 31.95 factors, or 1.39 %, increased at 2,322.56.

Following the Bank of Japan (BOJ)’s determination to switch its ultra-loose financial coverage final week, 10-year Japanese authorities bond yields surged to a nine-year excessive of 0.605 %.

The BOJ introduced that it could permit the long-term yield to exceed its earlier 0.5 % cap and doubtlessly attain 1.0 %.

Meanwhile, export-oriented points gained as a consequence of a weaker yen.

On the prime market, gainers have been led by precision instrument, transportation tools, and iron and metal shares.

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