The Nikkei 225 gained 0.3 percent to 11,835.08 and the Topix index was up 0.8 percent to 1,198.97 on Wednesday in Tokyo, reaching 15-week highs due to the yen once again weakening in relation to the dollar.

Carmakers did exceptionally well. Toyota gained 1.4 percent to ¥4,230, Nissan was up 1.4 percent to ¥1,165, and Honda gained 2 percent to ¥5,720. Some analysts are saying that revaluation will help the Japanese automobile manufacturing sector because the revaluation will increase purchasing power in China and so boost demand there for Japanese cars.

In the pharmaceuticals sector Tsumura, which makes Chinese medicines, gained 2.2 percent to ¥2,090 when Credit Suisse First Boston rated it at “outperform”, citing the growing Japanese demand for Chinese herbal medicines. Chugai Pharmaceutical, the Japanese component of Roche, advanced by 3.1 percent to ¥1,845 on its announcement that the health ministry had requested that it proceed more quickly on filing for an approval of Avastin, its colon cancer drug. Demand for the drug is very high.