Nikkei posts best year since 1972 as Abenomics drives gains

Image
Reuters TOKYO
Last Updated : Dec 30 2013 | 12:45 PM IST

TOKYO (Reuters) - Japan's Nikkei stock average rose to a fresh six-year high to close out 2013 with a 57 percent annual gain, its biggest in more than 40 years on the back of aggressive economic stimulus by Prime Minister Shinzo Abe.

The Nikkei rose for a ninth day to end 0.7 percent higher at 16,291.31 on Monday, its longest winning streak since July 2009.

Mazda Motor Corp was the Nikkei's best performer in 2013, gaining 213 percent. Softbank Corp came in second with a 193 percent gain, while Fuji Heavy Industries Ltd , which makes Subaru vehicles, was third.

Nikon Corp was the worst performer this year, down 20.5 percent, followed by Toho Zinc Co Ltd and Pacific Metals Co Ltd .

The broader Topix was up 1 percent at 1,302.29, rising above 1,300 for the first time since August 2008. Trading volume hit a two-week high with 2.91 billion shares changing hands.

(Japan's markets will be closed for the New Year holiday from December 31 to January 3. Reuters coverage of the Japanese stock markets will resume on January 6.)

(Reporting by Dominic Lau; Editing by Richard Pullin)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 30 2013 | 12:42 PM IST

Next Story