Nikkei ends at 7-month high in on weak yen, reform hopes

Reuters Updated - September 02, 2014 at 12:13 PM.

Japan's Nikkei share average ended at a seven-month high on Tuesday in active trade as the yen slipped to a seven-month low against the dollar, sending exporters higher on hopes of a boost to earnings.

The Nikkei gained 1.2 percent to 15,668.60, the highest since mid January. The broader Topix rose 1.1 percent to 1,297.00, and the JPX-Nikkei Index 400 gained 1.1 percent to 11,763.89. A total of 2.4 billion shares changed hands on the main board, the biggest since early August.

A planned cabinet reshuffle by Prime Minister Shinzo Abe also supported sentiment, traders said.

The Nikkei business daily reported that Abe has decided to bring Yasuhisa Shiozaki, a veteran Liberal Democratic Party (LDP) and vocal proponent of overhauling Japan's Government Pension Investment Fund, for the labor and welfare minister post.

Published on September 2, 2014 06:43