Tokyo shares close higher; Nikkei reclaims 17,000 for 1st time in over 7 mths
AFX


TOKYO (XFN-ASIA) - Share prices finished sharply higher, with the benchmark Nikkei 225 index settling above 17,000 for

the first time in more than seven months, helped by the Dow's fresh record close overnight and the

weak yen, dealers said.

Dealers said easing worries over an imminent rate hike in Japan also supported buying interest,

together with growing expectations that Japanese companies may revise upward their profit forecasts.

The Nikkei 225 Stock Average closed up 234.16 points or 1.40 pct at 17,011.04. This was the first time that the tech-rich index has closed above the 17,000 level since May 9 when it ended at 17,197.91.

The broader TOPIX index of all first-section issues climbed 21.61 points or 1.31 pct to 1,667.01, its best finish since May 15 when it settled at 1,691.81.

Gainers overwhelmed decliners 1,417 to 217, with 75 stocks flat.

Volume rose to 1.89 bln shares from 1.72 bln shares yesterday.



(1 usd = 118.16 yen)

Maestro, thanks for that. I like the article. I have been following the Japanese market for yonks and noted that the index has been inching up.