Nikkei hits over 6-year high

Tokyo shares surged on Wednesday, with the key Nikkei index hitting an over six-year high.

The 225-issue Nikkei Stock Average rose 131.19 points, or 0.74 percent, to 17,752.64, its highest closing since May 9, 2000, when it ended at 17,844.54.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 9.41 points, or 0.54 percent, to 1,765. 31.

A range of shares gained ground. Rubber product sector moved up 3.68 percent as a whole. Nonferrous metal, Land transport issues were also higher. Meanwhile, utility, paper and pulp issues were lower.

Sony was the most heavily traded issue in value terms, soared 230 yen to 6,230 yen.

Nippon Steel was the day's volume leader, up 6 yen to 734 yen.

Advancing issues outnumbered declining ones 922 to 649 on the First Section, with 145 shares ending the day flat.

Trading volume on the main section dropped to 2,397.67 million shares from Tuesday's 2,435.11 million.

The TSE's Second Section index rose 9.67 points, or 0.23 percent, to 4,247.29 on a volume of 52.48 million shares. On the Osaka Securities Exchange, the near-term March Nikkei 225 index futures contract rose 180 points to 17,780.

Source: Xinhua