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Nikkei rises to 3-week high on US manufacturing data

Market participants await outcome of G20 meet

Reuters Tokyo
Last Updated : Feb 21 2014 | 2:13 PM IST

Japan's Nikkei average jumped 2.9% on Friday as the weak yen lifted overall sentiment and after a reading on US manufacturing hit its highest in nearly four years.

The Nikkei ended 416.49 points higher at 14,865.67, the highest closing level since January 31. For the week, the index gained 3.9%, the biggest weekly rise since mid-November and snapping a 6-week losing streak.

The Topix rose 2.3% to 1,222.31, with all of its 33 subsectors in positive territory.

The JPX-Nikkei Index 400, an index launched this year comprising firms with high returns on equity and strong corporate governance, gained 2.3% to 11,059.15.

Market participants are awaiting the outcome of the Group of 20 finance chiefs' meeting in Sydney this weekend, at which finance ministers and central bank chiefs are expected to discuss the impact on emerging markets from the US Federal Reserve's stimulus tapering.

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First Published: Feb 21 2014 | 1:52 PM IST

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