Japan shares end 0.72% higher

Reported by AAP
Friday, March 2, 2012

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Japanese shares have closed 0.72 per cent higher helped by a weaker yen and rallies in Chinese markets.

The Nikkei 225 index at the Tokyo Stock Exchange on Friday closed up 0.72 per cent or 69.66 points at 9,777.03, while the Topix index of all first-section issues rose 6.28 points, or 0.76 per cent, to 837.82.

"The trend of risk-taking is continuing," Yumi Nishimura, senior market analyst at Daiwa Securities, told Dow Jones Newswires.

A slightly weaker yen and strongly performing Chinese bourses helped boost the Japanese market, said SMBC Friend Securities general manager of investment and research Fumiyuki Nakanishi.

Hong Kong shares were 0.90 per cent higher in the afternoon while Shanghai rose 1.08 per cent following data on Thursday showing manufacturing in the world's No.2 economy was picking up.

Nakanishi said the fluctuations of the dollar-yen exchange rate will continue to be the most influential trading cue through next week, adding that the Nikkei may top the 10,000 level if the dollar nears Y82.00.

The dollar was trading at Y81.41 yen in Tokyo, up from Y81.10 in New York late on Thursday.

Gains were led by the brokerage and real estate sectors.

Nomura Holdings was up 2.43 per cent at Y378, while Sumitomo Realty & Development added 4.26 per cent to Y1,906.

Carmakers retreated from earlier gains, with Toyota falling 0.59 per cent to Y3,315 and Nissan down 1.08 per cent at Y818. Honda was flat at Y3,090.

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