Nikkei rises on weak yen, oil price slump; November gain biggest in a year

Fri Nov 28, 2014 1:22am EST

TOKYO, Nov 28 (Reuters) - Japanese stocks rose to a two-week
high on Friday as a weaker yen helped exporters, while falling
oil prices benefited  airline and railway stocks such as ANA
Holdings Inc and East Japan Railway Co.
    The Nikkei benchmark ended 1.2 percent higher to
17,459.85, the highest closing price since Nov. 14. The
benchmark gained 0.6 percent for the week and jumped 6.4 percent
for the month, the biggest monthly gain since last November.
    Since Oct. 31, the Nikkei gained because of the Bank of
Japan's surprise easing and the Government Pension Investment
Fund's decision to increase its allocation to Japanese stocks.
    Also helping sentiment on Friday was better-than-expected
Japanese industrial output, which unexpectedly rose 0.2 percent
in October. 
    Oil prices plunged on Thursday after OPEC chose not
to cut production despite huge oversupply and prices sliding by
one-third since June. [ID: nL6N0TH14H]    
    The broader Topix gained 1.3 percent to 1,410.34.   
The JPX-Nikkei Index 400 added 1.2 percent to
12,835.53.

 (Reporting by Ayai Tomisawa; Editing by Richard Borsuk)