2014.12.0307:19:38UTC+00Japanese stocks rally on weaker yen bolstering exporters

Japanese stocks is on a four-day winning streak with the Topix Index closing at a six-year high on good performance from brokers and automakers.

The Topix Index advanced by 0.1% to 1,429.75 at the end of trading in Tokyo. The gauge advanced as much as 0.9% before settling still at the index’s six-year high. The Nikkei 225 Stock Average added 0.3% to 17,720.43 with the nation’s currency weakened to match the dollar near the 120 mark at 119.27 yen per dollar.

Toyota Motor Corp. rose by 0.9% leading the rally in the Topix Index. Nomura Holdings reached its highest level in five months while Otsuka Holdings Co. shed 5%.

Portfolio manager at Saison Asset Management Co., Tetsuo Seshimo, commented to Bloomberg that the yen is the driving force of the stocks currently. Seshimo adds that if the market keeps its pace, it won’t be a surprise when the yen reaches the 120 mark and even beyond. Seshimo says that given the Bank of Japan’s current status where it is ready to destroy the currency, the yen is likely to weaken further.