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Nikkei jumps to 5-week high, weak yen boosts exporters' shares

GPIF allocation hopes buoy risk appetite

Reuters Tokyo

Japan's Nikkei share average jumped to a five-week high on Thursday as investors took heart from news about the world's largest pension fund's allocation plan, and as a weaker yen boosted shares of exporters.

The Nikkei ended 1.6% higher to 15,134.75, the highest close since January 29.

The Topix rose 1.3% to 1,228.36, with 32 of its 33 subsectors in positive territory.

The JPX-Nikkei Index 400, an index launched this year comprising firms with high return on equity and strong corporate governance, advanced 1.2% to 11,113.92.

An advisory panel to the Government Pension Investment Fund said that GPIF need not stick to a "domestic-bond-centric portfolio" when the country is moving out of deflation.

 

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First Published: Mar 06 2014 | 12:51 PM IST

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