Japan's key Nikkei stock index hit yet another five-year high Monday on market optimism over the course of the country's economy solidified by the release of strong Japanese economic data for December.

The 225-issue Nikkei Stock Average rose 88.12 points, or 0.53 percent, to 16,747.76, its highest finish since Aug. 31, 2000.

The Tokyo Stock Price Index of all First Section issues on the Tokyo Stock Exchange gained 4.34 points, or 0.25 percent, to 1,712. 30, its highest close since April 10, 2000.

The early declines were offset in the afternoon as the benchmark Nikkei gained upward momentum after the Cabinet Office said the key gauge of the current state of Japan's economy had stayed above the boom-or-bust threshold of 50 percent in December.

Advancing issues led declining ones 1,004 to 582, with 84 shares ending unchanged.

The day's major gainers were mining, textile, marine transport, and real estate issues.

High-tech issues ended mixed, with Sony and Sharp moving higher while NEC and Advantest lost ground.

Softbank was the most heavily traded issue by value. It rose 90 yen to 4,290 yen.

Sumitomo Metal Industries was the day's volume leader, up 9 yen to 496 yen.

Trading volume on the TSE's main section came to 2,065.95 million shares against Friday's 2,123.71 million.

The TSE's Second Section index rose 60.30 points, or 1.14 percent, to 5,356.71 on a volume of 146.09 million shares. In Osaka, the near-term March Nikkei 225 index futures contract was up 30 points to 16,720.

Source: Xinhua