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Nikkei soars on U.S. trade data; Topix at highest since July 2008
January 8, 2014 / 6:32 AM / 4 years ago

Nikkei soars on U.S. trade data; Topix at highest since July 2008

TOKYO, Jan 8 (Reuters) - Japan's Nikkei soared on Wednesday
after strong trade data in the United States boosted risk
appetite, with traders seeing buying from foreign pension funds,
while Nintendo Co Ltd jumped after China temporarily lifted a
ban on selling game consoles.
    The Nikkei ended 1.9 percent higher at 16,121.45,
nearing a six-year high of 16,320.22 reached on Dec. 30.
    The broader Topix index jumped 1.8 percent to
1,306.23, a level not seen since July 2008, in active trade,
with 3 billion shares changing hands, the highest volume since
Dec. 13.
    Traders said overseas pension funds and other foreign
investors were among buyers of financials such as Nomura
Holdings and Mizuho Financial Group, up 4.6
percent and 3.5 percent, respectively. Nomura was the most
traded stock on the main board, while Mizuho was the fourth.
    Nintendo, the seventh-most traded, surged 11
percent to a 2-1/2 year high after China temporarily lifted a
14-year-old ban on selling video game consoles. 
 
    The JPX-Nikkei Index 400, which started trading
on Monday, gained 1.8 percent to 11,800.26.    
    The U.S. November trade deficit shrank to its lowest in four
years, thanks mainly to a renaissance in energy production,
prompting analysts to revise up forecasts for economic growth.

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