Nikkei closes at highest level in 6 years

DPA Tokyo | Updated on March 12, 2018

Japan’s benchmark Nikkei 225 Stock Average ended 2013 at its highest level in six years on Monday as export-linked issues were buoyed by the yen’s fall against major currencies.

The Nikkei gained 112.37 points or 0.69 per cent to end at 16,291.31 for the ninth consecutive trading day of rise.

The broader-based Topix index was up 12.22 points or 0.95 per cent at 1,302.29, topping the 1,300 mark for the first time since July 2008. For the year, the Nikkei rose 56.72 per cent and the Topix climbed 51.46 per cent.

Japan’s markets are to resume trading on January 6.

On Friday, exporters had traded broadly higher as the dollar rose to the highest level in five years and two months. A weaker yen makes Japanese goods more competitive overseas and improves repatriated revenues.

On currency markets at 3 pm (0600 GMT), the dollar traded at 105.32-33 yen, up from Friday’s 5 pm quote of 104.69-71 yen.

The euro was quoted at 144.69-72 yen, up from 144.10-14 yen late Friday and at 1.3738-3742 dollars, down from 1.3764-3765 dollars.

Published on December 30, 2013

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