Nikkei gains after yen weakens on news Yellen tapped to lead Fed

Wed Oct 9, 2013 2:37am EDT

TOKYO, Oct 9 (Reuters) - Japan's Nikkei share average
recovered from a five-week low and gained 1 percent on
Wednesday, helped by news that President Barack Obama has tapped
Federal Reserve Vice Chair Janet Yellen to head the U.S. central
bank.
    The news removed some uncertainty hanging over the market
and helped risk appetite, weakening the yen against the dollar.
 That triggered futures buying and bargain hunting in
exporters that were weaker in early trade, traders said.
    The Nikkei closed up at 14,037.84, after falling as
low as 13,751.85 in the morning session. That was just above a
five-week low of 13,748.94 hit on Tuesday.
    The broader Topix gained 1.5 percent to 1,166.90.
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