Nikkei hits 5-wk closing high, M'bishi Motors surges

TOKYO Dec 3 (Reuters) - Japan's Nikkei average climbed nearly 4 percent on Thursday to hit its highest close in five weeks as exporters such as Canon Inc (7751.T) jumped on a weaker yen, while metals shares climbed after gold hit a new record.

The benchmark Nikkei .N225 jumped 3.8 percent to 9,977.67, its highest finish since Oct. 30 and well above its 25-day moving average around 9,700.

The broader Topix .TOPX gained 3.4 percent to 888.04.

Mitsubishi Motors Corp (7211.T) soared 13.5 percent after the Nikkei business daily reported that PSA Peugeot Citroen (PEUP.PA) is in talks to spend up to 300 billion yen ($3.4 billion) to acquire a 30-50 percent stake. [ID:nBNG460701]

Mitsubishi Motors and Peugeot confirmed they were discussing an expansion of their existing partnership that could end in a capital tie-up, underscoring the intensifying pressure to consolidate in the fiercely competitive auto industry. (Reporting by Aiko Hayashi) ((aiko.hayashi@thomsonreuters.com; Reuters Messaging: aiko.hayashi.reuters.com@reuters.net; +81 3 6441 1802)) ((If you have a query or comment on this story send an email to news.feedback.asia@thomsonreuters.com)) ((Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * BridgeStation: view story .134 * Reuters Plus: from your WebDSS screen For more information on Top News, visit topnews.reuters.com))