Yen weak in lower 149 zone vs. dollar, near 32-year low

The yen traded near a new 32-year low in the lower 149 range against the U.S. dollar Wednesday morning in Tokyo on continued expectations of monetary tightening in the United States following stronger-than-expected industrial output data.

Tokyo stocks were higher in the morning with exporter issues leading the advance while investors also took heart from overnight gains on Wall Street.

The 225-issue Nikkei Stock Average rose 197.73 points, or 0.73 percent, from Tuesday to 27,353.87. The broader Topix index was up 8.02 points, or 0.42 percent, at 1,909.46.

On the top-tier Prime Market, gainers were led by electric power and gas, textile and apparel, and machinery issues.

© Kyodo News