Japan's key Nikkei stock index jumps to five-year, five-month high

Japan's key Nikkei stock index jumped nearly 570 points Friday to end at a five-year, five-month high.

The 225-issue Nikkei Stock Average was up 569.66 points, or 3. 58 percent, to 16,460.68, its highest finish since Sept. 8, 2000. It was the biggest points gain since March 4, 2002, when the Nikkei rose 638.22 points.

The Tokyo Stock Price Index of all First Section issues on the Tokyo Stock Exchange gained 47.03 points, or 2.86 percent, to 1, 690.32, a level unseen since May 8, 2000.

Brokers said the Tokyo market has already digested the so- called Livedoor shock as seen in the recovery of market sentiment and the fact that Livedoor stock stopped falling on the day for the first time in two weeks.

Sony, which Thursday made sharp upward revisions to its earnings estimates for the current fiscal year through March, gained 590 yen to 5,800 yen. It was the day's volume leader.

Advancing issues outpaced declining ones 1,451 to 175, with 41 shares ending unchanged.

Trading volume on the TSE's main section swelled to 2,426.46 million shares from Thursday's 2,037.84 million.

The TSE's Second Section index was up 81.95 points, or 1.59 percent, to 5,228.31 on a volume of 159.22 million shares. In Osaka, the near-term March Nikkei 225 index futures contract tacked on 560 points to 16,470.

Source: Xinhua