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

Planned cabinet reshuffle by PM Shinzo Abe supports sentiment

Reuters Tokyo
Last Updated : Sep 02 2014 | 2:01 PM IST

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% to 15,668.60, the highest since mid January.

The broader Topix rose 1.1% to 1,297.00, and the JPX-Nikkei Index 400 gained 1.1% 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.

 

More From This Section

First Published: Sep 02 2014 | 1:22 PM IST

Next Story