Japan’s Nikkei Ends Week on High Note

Japan’s benchmark Nikkei average ended the week on a high note, closing up 1.85 percent at 9,768.08 on Friday, while the broader Topix gained 1.43 percent to 853.13.

The Nikkei rose after no further damage was reported at the crippled nuclear plant in northeast Japan following Thursday night’s aftershock.

Traders say the Nikkei gained momentum in line with rises in oil and gold prices during Asian trade, with the yen’s extended falls against the euro bolstering overall sentiment.

Japanese stocks have been buoyant from the morning, supported by a strong performance from major retailers.

The Nikkei was also helped by the surge in shares of Tokyo Electric Power, after its stock jumped more than 20 percent.

TEPCO rose sharply after Mizuho Securities lowered its target price on the stock to 900 yen, which is still more than double the current level, and rated it (quote) „outperform.“

Tokyo Electric shares closed up 23.5 percent at 420 yen.

Foto: NTD