Nikkei rises but weaker dollar caps gains, SoftBank climbs

TOKYO, Jan 15 (Reuters) – Japan’s Nikkei share average tracked a rise in global equities and advanced on Monday, although the dollar’s weakening against the yen capped gains.

The Nikkei ended 0.26 percent higher at 23,714.88 for its first session of gains in four days.

Index heavyweight SoftBank Group Corp rose as much as 5.8 percent after the Nikkei business daily reported that the telecoms conglomerate plans to list its mobile-phone business this year in an initial public offering.

While SoftBank gained, exporters including Tokyo Electron , Komatsu and Suzuki Motor Corp dipped amid the dollar’s depreciation.

Of Tokyo’s 33 subindexes, 23 were in positive territory, led by securities and real estate.

The broader Topix added 0.4 percent to 1,883.90. (Reporting by the Tokyo markets team; Editing by Simon Cameron-Moore)

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Nikkei rises but weaker dollar caps gains, SoftBank climbs
Nikkei rises but weaker dollar caps gains, SoftBank climbs

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Neither U.S. District Judge Jesse Furman nor the 2nd U.S. Circuit Court of Appeals thought much of Louis Vuitton’s trademark and copyright case against a small company that sold canvas tote bags riffing on Vuitton’s hallowed toile monogram design. Judge Furman granted summary judgment (156 F.Supp.3d 425) to My Other Bag in January 2016, holding that the canvas totes were an “obvious” parody that, if anything, enhanced the power of Vuitton’s brand. The 2nd Circuit affirmed (674 Fed.Ap

Source: Reuters


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