Nikkei ends at 7-month high in on weak yen, reform hopes
By Reuters
Sep 02, 2014 10:25 PM EDT
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.
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