Jackson Hole: Points and Yen

jackson hole: On Thursday, the key market gauge fell 80.87 points. ; The Topix of all first-section issues ended up 4.79 points, or 0.30 percent, at 1,596.99, after falling 7.85 points the previous day, according to The Japan Times. The Tokyo market was led upward by export-oriented issues against the backdrop of the weaker yen, brokers said. The benchmark Nikkei 225 average rose 98.84 points, or 0.51 percent, to close at 19,452.61. Stocks accelerated their upswing in the afternoon session due to buybacks prompted by hopes that the yen will fall further after a speech to be delivered by U.S. Federal Reserve Chair Janet Yellen later on Friday at a symposium in Jackson Hole, Wyoming, brokers said. Helped by the halt to the yen's appreciation, the Nikkei recovered the level before U.S. President Donald Trump's threat this week of a government shutdown, an official of a bank-affiliated securities firm noted. If Yellen makes a remark on the Fed's tapering of its balance sheet in her speech, the dollar will draw purchases, which in turn will have positive effects on Tokyo stocks, said Yoshihiko Tabei, chief analyst at Naito Securities Co. (news.financializer.com). As reported in the news.