Japanese stocks rise for the second straight session by a weaker local currency Yen

Japanese shares ended the trading on Monday in the first week's sessions higher, posting gains for the second consecutive session led by shares of export companies after the local currency Yen falling to its lowest level in five weeks against the US dollar, as well as statements about the delay in the decision to increase the sales tax to 2019 to support the recovery of Japan's economy.

The Nikkei closed up almost 233.18 points or 1.39 percent to 17,068.02 points, and the wider TOPIX index rose 16.08 points or 1.19 percent to 1,366.01 points, its highest closing level since 27 last April.

The yen fell 0.9 percent against the US dollar, marking the lowest level in five weeks, 111.29 yen per one dollar, in light of the US currency rising against most currencies, based on the strong forecasts for the onset of the US Federal Reserve to raise US interest rates.

And the weaker yen boosts the expectations of gains from companies that rely on sales outside of Japan, particularly those companies that focus on sales in the United States, and Toyota Motor shares rose 3 percent, and Nissan Motor shares rose 3.8 percent, and Mazda shares rose 3.7 percent.

Shimo Mora One of the Assistant for Prime Minister Shinzo Abe on the Fuji TV yesterday Sunday said that the country needs to delay the sales tax increase until late 2019 to keep the economic recovery.

Futures for the S & P 500 rose 0.2 percent, after the index ended trading Friday on Wall Street, up by 0.4 percent, achieving a weekly gain was the largest in three months, amid improved investor sentiment with a succession of data that confirms the strength of the growth path of the US economy during the current year and its ability to withstand the effects of higher interest rates.