Japan’s Nikkei hits highest close in nearly six years

Japan’s Nikkei share average soared 1.8 per cent to its highest closing level in nearly six years today, as a slump in the yen pushed exporters higher on expectations of improved earnings.

The Nikkei closed 277.49 points higher at 15,727.12, the biggest daily gain in a week. The benchmark is up 9.8 per cent so far this month, and up 51 per cent so far this year.

If the year-to-date gains were to hold for the rest of the year, it would be the Nikkei’s best yearly performance since 1972.

The Topix advanced 1.1 per cent to 1,261.04, with 2.28 billion shares changing hands, up from Wednesday’s 2.18 billion shares but down from Tuesday’s 2.49 billion shares.

The dollar rose as high as 102.28 yen on the EBS trading platform, its highest since May 29th, after data showed the number of Americans filing new claims for unemployment aid unexpectedly fell last week.