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On Friday morning, Japan’s Nikkei share average climbed, buoyed by a second consecutive day of gains in pharmaceutical stocks. However, overall gains were capped as technology shares fell in line with their U.S. counterparts.
Japanese equity markets, which are heavily influenced by exporters, received some broad support from a weaker yen against the dollar. Nevertheless, the future direction of the yen-dollar exchange rate remains uncertain, with investors awaiting Bank of Japan Governor Kazuo Ueda’s parliamentary testimony following last month’s unexpected rate hike.