2013.05.2301:45:39UTC+00Japan stocks bolster on weaker yen; banks decline

Japanese stocks on Thursday bypass concerns that the U.S. Federal Reserve may downscale its financial stimulus to soar further toward multi year highs, with a weakened yen giving several exporters a lift and offsetting losses in banks. The Nikkei Stock Average traded 0.7% higher after ending at a fresh high since December 2007 in each of the last four trading days, while the broader Topix  was up a more modest 0.2%. Canon Inc. climbed 3.4%, Fast Retailing Co. acquired 2.9% greater and Fanuc Corp. bolstered 1% as the dollar traded above ¥103. Those gains outweighed a 1.4% drop for Sumitomo Mitsui Trust Holdings Inc. and a 1.9% fall for Shinsei bank Ltd. after a lesser finish on Wall Street overnight. Toyota Motor Corp. up by 0.6% after the Nikkei reported it has decided to raise its production goal in the fiscal first half ending Sept. 30. Komatsu Ltd. shot up 0.9% after a separate Nikkei report said it plans to lift its capital levels by increasing earnings and repaying debt.