(MENAFN- The Peninsula) Tokyo stocks rose 1.23 percent Friday, lifted by a weak yen, while Japan's two biggest airlines soared on OPEC's decision not to cut oil production despite prices hitting four-year lows.
The Nikkei 225 index at the Tokyo Stock Exchange added 211.35 points to finish at 17,459.85, while the Topix index of all first-section shares climbed 1.32 percent, or 18.44 points, to 1,410.34.
Japanese exporters got a boost as the dollar climbed above 118 yen, which makes them more competitive overseas and inflates their repatriated income.
"Exporters are benefiting from the higher dollar, (and) the market may be ready to test the 17,500 level soon after two straight days of consolidation, which has helped to cool off the somewhat overheated market," said Chibagin Asset Management general manager Yoshihiro Okumura.
"Meanwhile, OPEC's decision to hold its production levels should keep crude prices low, which will enhance corporate profits," he told Dow Jones Newswires.
Oil prices extended their losses in Asian trade after the Organization of the Petroleum Exporting Countries, which pumps out one-third of the world's oil, opted to stick by its output target, even after rates have plunged by 35 percent since June.
The prospect of low oil prices sent Japan Airlines and domestic rival All Nippon Airways (ANA) surging - fuel costs tend to be a carrier's single-biggest cost.
JAL rose 5.28 percent to 3,490 yen while rival ANA jumped 7.39 percent to 292.2 yen.
Toyota rose 2.34 percent to 7,314 yen and Sony was 4.00 percent higher at 2,600 yen.
Share dealers appeared to largely shrug off a string of lacklustre Japanese economic data Friday with the October inflation rate hitting a year low and household spending falling again.
US markets were closed Thursday for the Thanksgiving holiday.
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