Nikkei at 8-mth top as US data cheers

TOKYO: Japan’s Nikkei climbed to an eight-month high on Thursday after the dollar jumped against the yen following robust US private-sector jobs data, while Resona surged 14 per cent on speculation it would soon launch a planned share sale. Shares of blue-chip exporters rose, with Toyota Motor Corp gaining 2.6 per cent and Hitachi Ltd rising 2 per cent, leading the Nikkei’s advance after the greenback posted its best one-day gain in more than three months against the yen on Wednesday.

Trading volume picked up sharply as more investors tap into riskier assets on hopes of economic recovery. Around 2.4 billion shares changed hands on the Tokyo Stock Exchange’s first section, well above last week’s average of around 1.3 billion. Advancing issues outpaced declining ones by 1,250 to 302.

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