TOKYO, Nov 16 (Reuters) - Japan’s Nikkei share average rose to a 9-1/2-month high on Wednesday, as a weaker yen underpinned exporters and higher Japanese yields stoked bank shares.
The Nikkei ended up 1.1 percent at 17,862.21, scaling its highest levels since Feb. 1.
Market expectations that U.S. President-elect Donald Trump’s administration will increase spending and accelerate inflation, leading to higher interest rates, helped the dollar climb to a five-month peak against the yen of 109.34 overnight.
The Topix banking sub-index jumped 5.1 percent to its highest levels since January on expectations that higher yields would lift lenders’ profits as the 10-year Japanese government bond yield traded in positive territory.
The broader Topix rose 1.3 percent to 1,421.65, while the JPX-Nikkei Index 400 also added 1.3 percent to 12,777.92. (Reporting by Tokyo markets team; Editing by Simon Cameron-Moore)