Shares in Asia were mixed Thursday. In Japan, the Nikkei Index gained 3.8% closing at 9,978, and in Hong Kong the Hang Seng Index gained 1.2%, ending the day at 22,554. Meanwhile in China, the Shanghai Composite Index fell 0.2% to 3,265 -- its first decline in four days.
Japanese investors rejoiced as the yen sank to its lowest value against the dollar in five days, sending stock prices higher. Shares in Japanese car companies made huge gains today. Toyota (TM) and Honda (HMC) both earn more than 50% of their profits in overseas markets and a weaker yen means they receive more money when converting cash into their home currency. Toyota surged 5.6% and Honda climbed 4.2%. Mitsubishi Motors (MMTOF) catapulted 12.6% higher after an announcement that it is in discussions with Paris-based Peugeot Citroen to form a partnership that would include manufacturing electric cars.