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Journalism of Courage
Japan’s Nikkei average jumped 1.9 per cent to close at the highest level since the March 11 earthquake on Friday as a 24 per cent gain in Tokyo Electric Power Co ,the operator of a stricken nuclear plant,
became a factor in encouraging active short-covering.
Robust buy-backs were led by participants including commodity trading advisers in the Nikkei futures market,with gains in commodities prices and the yen’s extended falls against the euro also bolstering overall sentiment,traders said.
The benchmark Nikkei closed up 1.9 per cent or 177.15 points at 9,768.08,its highest close since March 11 and biggest per centage gain for a single day since March 30.
The broader Topix ended up 1.4 per cent or 12.03 points at 853.13.
