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Thursday, 14th January 2010
In Business In Japan,

Japan stock exchange closes on high

Various Japanese stock exchanges have risen in early morning trading today (January 14th).

According to figures, Japanese stocks rose by some 1.61 per cent despite the recent troubles surrounding the value of shares in ailing Asian carrier Japan Airlines.

The Nikkei 225 Stock Average was up by 172 points, while the Topix Index also saw rises of 1.08 per cent.

Speaking to AFP about the impact of the potential bankruptcy of Japan Airlines on the Japanese stock market, equity information chief at Daiwa Securities Capital Markets Kazuhiro Takahashi said: "Some people are buying Japan Airlines shares at six or seven yen, hoping the price will go up."

He predicted that this buying trend is likely to continue for a number of days on the Japanese exchanges.

Japan Airlines is struggling with billions of debt and reports this week have strongly indicated that the carrier will file for bankruptcy next week.

Written by Kimberley Homer.