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This is an archive article published on December 21, 2010

Nikkei hits 7-month closing high

Japan's Nikkei average hit a seven-month closing high on Tuesday in holiday-thin trade.

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Japan’s Nikkei average hit a seven-month closing high on Tuesday in holiday-thin trade,as a rebound in Chinese equities encouraged investors to buy on dips.

Investors shrugged off a slightly stronger yen against the dollar and aggressively added blue-chip exporters.

Comments from a Chinese vice premier that China supports efforts by the EU to calm global markets in the wake of Europe’s debt crisis lent further support,bolstering the euro-sensitive precision machinery sector. Canon Inc rose 1.6 per cent.

The benchmark Nikkei gained 1.5 per cent or 154.12 points to 10,370.53,while the broader Topix rose 0.9 percent to 906.21.

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