Nikkei posts biggest gain in 2 weeks

Markets await word on snap election, delay in tax hike

Reuters Tokyo
Last Updated : Nov 18 2014 | 12:56 PM IST

Japanese stocks had their biggest gain in two weeks on Tuesday as investors waited to see if Prime Minister Shinzo Abe will call a snap election and consider fresh steps to support the economy after it slipped into recession in the third quarter.

The Nikkei benchmark closed 2.2% higher at 17,344.06, the biggest daily percentage gain since Nov 4.

Sony Corp stole the spotlight, soaring 6.4% after it said it is aiming to garner up to $11 billion in revenue from its movie business in three years' time, a 36% increase over levels forecast for the current financial year.

The broader Topix rose 2.1% to 1,394.88, and the new JPX-Nikkei Index 400 gained 2.1% to 12,727.58.

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First Published: Nov 18 2014 | 12:08 PM IST

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