TOKYO -- Buying from domestic pension funds helped kick the
index above a key psychological resistance of 17,000 points, helping the benchmark to its highest closing level since May 17.
The Nikkei 225 index rose 302.53 points, or 1.8%, to 17,210.08, while the
index, which includes all shares listed on the
Tokyo Stock Exchange's
first section, climbed 24.16, or 1.6%, to 1583.945. The
small-cap index gained 1.08, or 1.2%, to 90.05, while the Nikkei
index rose 18.72, or 1.1%, to 1769.64.
Also helping sentiment on stocks was news that summer bonuses had increased by 1.2% year-on-year. With Japan's major economic statistics seen as less reliable than those in other developed economies, due to inconsistent sampling techniques, many economists look at bonus figures to see how well corporate Japan may be doing.
moved above the 4,000 mark overnight, Japanese chip makers benefited.
gained 62 yen, or 4.5%, to 1452 ($13.79),
jumped 550, or 3.7%, to 15,450, while
Matsushita Electric Industrial
rose 90, or 3.5%, to 2680.
also rose 55, or 5.0%, to 1146 after local reports said the firm would stop making word processors.
Shares listed on
were mixed on the third day of trading.
Creek & River
lost 380,000, or 12.8%, to 2.6 million,
Honda Verno Tokai
gained 10 to 1360, while
climbed 700, or 7.8%, to 9700.
The greenback fell against the yen and fetched 105.33, despite warnings from Japanese government officials today that economic fundamentals did not justify a yen stronger than 105.00 for any reason.
index gained 151.40 points to 16,238.14 in light volume. Many large investors seem to be waiting for the index to drop to around 15,200 before entering the market again, traders said.
Even with telecom operator
global offering tomorrow,
still climbed HK$2.50, or 3.9%, to 67.50 ($8.66).
Pacific Century CyberWorks
gained 0.30, or 1.9%, to 16.00, while its takeover target,
Cable & Wireless HKT
rose 0.20, or 1.1%, to 17.90.
Elsewhere in Asia, Korea's
index lost 3.45 to 781.87, while Taiwan's
index shed 53.06 to 8637.60.