Japanese stocks advanced by midday today with the Nikkei average hitting a fresh 21-month high as the dollar's surge against the yen lifted exporters.
One of these exporters was Toyota Motor, which jumped 1.79 per cent to 3,990 yen after the dollar surged to five-month highs above 112 yen late last week, with Japanese authorities again suspected of yen-weakening intervention on Friday to protect the competitiveness of the country's exporters.
In Tokyo morning trade, the dollar bought 112.18 yen
The Nikkei average settled the morning session up 0.35 per cent at 11,578.14 after earlier climbing to a high of 11,643.37 - its highest intraday level since June 6th, 2002.
On Friday, the Nikkei gained 1.19 per cent to close at a 21-month high of 11,537.29.
The broader TOPIX index was up 0.49 per cent at 1,136.52 by midday.
