Export-dependent stocks in Tokyo were up on Wednesday as investors took note of the yen’s weakness against the US dollar and crude oil prices which had fallen sharply since the beginning of the week.

Toyota was up 0.8 percent to ¥3,920, while Canon advanced by 0.3 percent to ¥5,890. Shares in oil companies lost value however with the drop in the price of oil.

Japan Petroleum Exploration was down 2.1 percent to ¥4,640, while gas and oil project developer AOC declined by 3.7 percent to ¥1,627.

In the banking sector, meanwhile, Mitsubishi Tokyo Financial Group was up by 1.4 percent to ¥939,000 and UFJ gained 1.2 percent to ¥576,000 on the news that shareholders had approved the merger of the two companies.

The internet services sector was mixed as Livedoor was down 1 percent to ¥383 as it backed off from recent advances, while Yahoo Japan advanced 3.1 percent to ¥234,000 after Yahoo in the US reported strong performance.

The Nikkei 225 gained 0.6 percent to 11,577.44, its highest level in 11 weeks, while the Topic index rose by 0.5 percent to 1,176.48.