Tuesday, 2nd July 2013
In Business In Japan,
Nikkei share average climbs over 14,000
The Japanese Nikkei share average has climbed above the 14,000 point mark for the first time in almost five weeks today (July 2nd).
Encouraging data from the US manufacturing and construction industries added to signs of an improving economy in the nation.
The Nikkei grew by 1.2 per cent to 14,020.56 by the close of mid-morning trading, as it headed towards its fourth consecutive day of trading, the longest streak of positive growth for the index in since March.
Data coming out of the US helped to lift the dollar to a one-month high of 99.870 yen on Monday, before hitting 99.605 in relation to the greenback today.
Car manufacturers experienced the largest gains, with Toyota Motor Corp increasing by 1.8 per cent and Mazda Motor Corp and Honda Motor Corpadvancing by 3.2 and 2.2 per cent respectively.
Despite its recent lows, the Nikkei is up 13 per cent since April, when the Bank of Japan announced a radical monetary stimulus policy.
Written by Graham McPherson