Awwal 29, 1432 H/March 4, 2011, SPA -- Japanese shares jumped about 1 per cent Friday after an overnight rally on Wall Street, bolstered by positive US employment reports and retreating oil prices, as dpa reported. The benchmark Nikkei 225 Stock Average gained 107.64 points, or 1.02 per cent, to close at 10,693.66 while the broader Topix index was up 6.9 points, or 0.73 per cent, at 955.59. For the week, the Nikkei was up 1.59 per cent while the Topix rose 1.45 per cent. Tokyo stocks opened higher with export-oriented shares boosted by the yen's fall against major currencies. A weaker yen makes Japanese goods less expensive overseas and raises repatriated earnings. Some of the earlier gains were erased in the afternoon as investors sold shares to lock in quick profits after the sharp morning jump. US stocks soared Thursday as weekly claims for jobless benefits fell unexpectedly and the price of oil dropped. The price of crude oil in New York was down for the first time in three days, declining 0.38 per cent to 101.84 dollars per barrel amid reports that Venezuela could mediate in the Libyan conflict. On currency markets at 3 pm (0600 GMT), the dollar traded at 82.32-35 yen, up from Thursday's 5 pm quote of 81.88-89 yen. The euro traded at 1.3963-3966 dollars, up from 1.3868-3869 dollars Thursday, and at 114.95-98 yen, rising sharply from 113.55-59 yen.
