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Line IPO puts Nikkei on track for best week since 2009

Line Inc. executives kick off trading in New York on Thursday. In Tokyo, Line shares rose as much as 48%.

Japanese stocks on Friday barreled toward their best week in six-and-a-half years, leading gains across Asia amid relief over a weakening yen and signs of economic firming in China.

Japan’s Nikkei Stock Average NIK, +0.81% jumped 1.2% and is up 9.7% so far this week. The benchmark is on track to post its biggest weekly gain since early December 2009, when it rose 10.4% in a week.

Gains came as the Japanese yen weakened sharply. Japanese shares typically rise when the currency depreciates, on the view that a weaker yen makes Japanese exports more competitive abroad. The yen was recently trading at 106.21 to the U.S. dollar.

Investors’ hopes for an expansive...