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

By Reuters

Sep 02, 2014 10:25 PM EDT

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, andthe JPX-Nikkei Index 400 gained 1.1 percent to11,763.89. 

A total of 2.4 billion shares changed hands on the mainboard, 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 ministerpost. 

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics