Nikkei gains after yen weakens on news Yellen tapped to lead Fed

Reuters

TOKYO, Oct 9 (Reuters) - Japan's Nikkei share average

recovered from a five-week low and gained 1 percent on

Wednesday, helped by news that President Barack Obama has tapped

Federal Reserve Vice Chair Janet Yellen to head the U.S. central

bank.

The news removed some uncertainty hanging over the market

and helped risk appetite, weakening the yen against the dollar.

That triggered futures buying and bargain hunting in

exporters that were weaker in early trade, traders said.

The Nikkei closed up at 14,037.84, after falling as

low as 13,751.85 in the morning session. That was just above a

five-week low of 13,748.94 hit on Tuesday.

The broader Topix gained 1.5 percent to 1,166.90.

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