Tokyo stocks finish up 10,000 for 1st time in over 7 months

Tokyo stocks rose on Wednesday, with a key index topping the psychologically important 10,000 mark for the first time in more than seven months on the yen's depreciation and overnight gains on Wall Street. The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) advanced 151.44 points, or 1.53 percent, from Tuesday to 10,050.52, surpassing the 10,000 line for the first time since July 27. The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, rose 11.78 points, or 1.39 percent, to 857.11, with 26 of 33 industry groups ending in positive territory, led by the insurance, iron and steel, and securities sectors. The Dow Jones Industrial Average closed at its highest level since late 2007. The weaker yen against the US dollar benefited export-linked shares, as it boosts Japanese exporters' overseas profits when repatriated. The yen fell to an 11-month low in the lower JPY 83 level against the dollar in Tokyo. At 5:30 p.m. (0830 GMT), the US dollar traded at JPY 83.48-50 against JPY 82.90-83.00 in New York and JPY 82.38-39 in Tokyo at 5 p.m. Tuesday.