The Japanese yen has received much demand in recent months due to more demand for safe-haven assets and lower US rate hikes expectations, Bernard Aw from IG Markets said.
“At the start of the year, a stronger yen was not on the radar of many analysts, but as the year and new developments unfold, they are looking at the possibility of more yen strength more closely.”
Troubled Japanese conglomerate Toshiba saw shares rise 4% after selling its medical equipment unit to Canon for nearly $6bn (£4bn).
It also plans to sell a majority stake in its home appliances business to China’s Midea Group.
Toshiba is looking to raise money after major accounting scandal last year led to record losses and job cuts.
The rest of Asia’s major stock markets are higher after oil prices rose above $40 overnight.
