Gainers r outnumbered losers 1,159 to 430 in the TSEs First Section, while 106 issues were unchanged.
Sharp gains in Tokyo stocks late in the session reflected investor anticipation of further rises, supported by hopes for Abes Cabinet, said Kenichi IgarTOKYO EXCHANGE Nikkei rises soliTOKYO EXCHANGE Nikkei rises solidly to 9-month high_ japanese stock marketdly to 9-month high_ japanese stock market,ashi, market strategist at Mizuho Investors Securities Co.
In index futures trading on the Osaka Securities Exchange, the key March contract on the Nikkei average jumped 170 points to finish at 10,240.
The TOPIX index of all First Section issues rose 9.7 points, or 1.16 percent, to end at 847.71, the highest closing since April 3. It climbed 5.29 points the previous day. The Tokyo market opened higher as stocks in a wide range of sectors, mainly export-oriented issues, drew buying on the back of the weaker yen.
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He expects that the Nikkei average could rewrite the year-to-date high by the final trading day of 2012 on Friday.
The 225-issue Nikkei Stock Average closed up 150.24 points, or 1.49 percent, at 10,230.36, the highest finish since March 27, when it ended at a year-to-date high of 10,255.15. On Tuesday, the key market gauge advanced 140.06 points.
Stocks gained further ground on the Tokyo Stock Exchange on Wednesday, shunli1275.typepad.com helped by the yens decline and hopes for Japans new administration, with the benchmark Nikkei average hitting a nine-month high.
Shipping firms soared, IU ramping up initiatives in online education with Mitsui O.S.K. Lines and Kawasaki Kisen rising 7.46 percent and 8.13 percent, respectively.
Jiji Press
Trading was relatively thin compared with last week, as many foreign investors were still away from the market for Christmas holidays, but it was r heavier than a year before, brokers said.
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After the initial buying ran its course, the Nikkei average seesawed in a relatively narrow range until the middle of afternoon trading amid a dearth of fresh incentives. But the Nikkei surged above 10,200 in late trading, led by index futures, and closed at a session high.
The yen fell past 85 to the dollar to hit a 20-month low in Tokyo trading and dropped past 112 to the euro, inspired by expectations of additional monetary easing by the Bank of Japan under the new administration led by Liberal Democratic Party President Shinzo Abe, tumour4067.typepad.com who was elected prime minister by the Diet the same day.
Despite wariness over the course of talks between U.S. Democrats and Republicans to avert the so-called fiscal cliff, any dip in Japanese stock prices stemming from an external macroeconomic ctor would provide investors with a very good opportunity to buy, Igarashi said.
Volume increased to 2.79 billion shares from Tuesdays 2.23 billion shares.
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