Japanese shares rallied to an eight-year high on Monday, 16 February 2015, as demand for risk assets underpinned after official data confirmed that Japan's economy pulled out of recession in the last quarter of last year. Shares also advanced amid building hopes that continuing talks in Athens over the Greek debt crisis would result in a deal. The Nikkei Stock Average rose 91.41 points, or 0.5%, to 18004.77, above the 18000 threshold for the first time since July 2007. The broader Topix also ended 0.7 point stronger at 1459.43.
Government data out Monday morning showed Japan managing to pull out of recession in the last quarter of last year. The first read of Japan's gross domestic product for the October-December period indicated growth at a 2.2% annualized rate, or 0.6% on a quarterly basis.
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