The Nikkei advanced 1.0% on Thursday to 9,400.88 points, climbing above its five-day moving average at 9,377.65.
Also Read
Related Stories
News Now
- Asian shares fall as focus shifts to US budget talks
- Nikkei up for 4th day after Greek deal
- Nikkei climbs 1.6% to six and a half month high
- Nikkei climbs 1.6% to 6 1/2 month high on softer yen
- Nikkei rises to 2-month high, led by exporters
- Nikkei hits 2-month high on hopes of easing after election
US House of Representatives Speaker John Boehner voiced optimism on Wednesday that a deal could be reached to avoid a "fiscal cliff" of $600 billion in spending cuts and tax hikes starting in 2013. Failure to reach a deal could see the US economy back in recession and drag down the global economy.
Boehner's remarks lifted US and European stocks overnight.
Japan's exporters gained ground after a bout of profit-taking following a recent rally spurred by a weaker yen. The yen has been under pressure on expectations the opposition Liberal Democratic Party will win a December 16 election and increase pressure on the central bank to adopt a bolder monetary policy.
(Business Standard)
↧