Nikkei jumps 1.81% to 5-month high on global economic optimism

19:16, December 02, 2010      

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Tokyo stocks rose Thursday, with the key Nikkei stock index climbing nearly 2 percent as encouraging U. S. economic data boosted investor sentiment and easing fears about Europe's debt crises, coupled with a weaker yen further contributed to a positive market mood.

Brokers indicated a number of economic indicators supported the market's rise on Thursday including news Thursday morning that Japanese firms' increased capital spending in the July-September period by 5.0 percent from a year earlier, marking the first annual gain since 2007.

Japanese firms invested 9.56 trillion yen (113.5 billion U.S. dollars), with spending on plant and equipment by manufacturers gaining 9.1 percent and investments by non-manufacturers increasing 2.9 percent, according to Japan's finance ministry.

In addition, ADP Employer Services reported that private-sector payrolls increased the most in three years and the global economic outlook was brightened by data from China and the U.S. showing manufacturing output was gaining momentum.

The 225-issue Nikkei Stock Average advanced 180.47 points, or 1. 81 percent, from Wednesday to 10,168.52, its highest closing level since June 21, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 11.14 points, or 1.29 percent, to 877.21.

"The biggest factor is that we saw improvement in yesterday's macroeconomic data. The ADP jobs report was good and there are expectations for Friday's non-farm payrolls numbers," said one local equities strategist.
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(Editor:李牧(实习))

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