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Nikkei rises to its highest level since 1996
10:50 - 12/10/2017
Information / Baghdad ..
Japan's Nikkei average <.N225> hit a two-decade high on Thursday, bolstering record highs for US equities and media speculation that the ruling party is heading for a victory this month.
The Nikkei rose 0.4 percent to close at 20,954.72 points, after rising to 20994.40 points, the highest level since December 1996.
The broader TOPIX index was up 0.2 percent at 1,700.13 points after touching 1,703.67 points, its highest level since July 2007.
Kobe Steel rose 0.5 percent after falling more than 35 percent this week after the company was involved in a fraud scandal.
A senior Japanese trade official said on Thursday that the Ministry of Commerce was seriously addressing data fraud as it affected confidence in Japan's manufacturing sector. Kobe Steel's chief executive said the company's scale of fraud may have crossed Japan's borders.
Toshiba Corp. rose 3.8 percent after the Tokyo Stock Exchange said on Wednesday it had lifted the troubled electronics company from a private watch list after improved internal controls. The move reduced the possibility of the company's shares being written off but did not completely rule out it.
The oil and coal index fell 1.3 percent, while the mining index fell 1.1 percent. Oil prices fell today after an increase in US fuel stocks despite OPEC's efforts to cut production and balance the market. Ending / 25
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