Nikkei slips after rally to near 5-year high, but up 5.1 pct on week
TOKYO, April 12 (Reuters) - Japan's Nikkei average retreated on Friday after recent sharp gains to an almost five-year high, though it still posted a third straight weekly advance, buoyed by optimism that bold central bank policies would revitalise the economy. The Nikkei closed 0.5 percent lower at 13,485.14. It opened up 0.1 percent at 13,568.25, its highest level since July 2008, before moving into negative territory. For the week, the benchmark rose 5.1 percent. The broader Topix index edged up 0.1 percent to 1,148.57 in active trade.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.