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Nikkei closes at six-month high
(CNN) -- Japan's share market closed at a six-month high Monday, with gains among automakers and big bank shares pushing the Nikkei index above 8800. Other Asian markets also rose. The Nikkei 225 average closed up 0.37 percent to 8822.73, after going as high as 8882.51 during the day morning. That was its highest close since December 9. The broader Topix index rose 0.55 percent to 874.36. Japan's market has staged a revival in the past two weeks, rising for eight of the last nine trading days and jumping to levels not seen for half a year. It has now put on more than 15 percent since touching a 20-year low of 7603.76 in late April. There was renewed enthusiasm for equities Monday as confidence grows about the prospects for a recovery in the U.S. economy. Honda Motor rose 1.6 percent and Toyota Motor ended 2 percent higher. Nissan put on 1 percent after announcing its Chinese joint venture would start on July 1. (Full story) Among banks, Mizuho soared 13.3 percent to 85,200 yen and UFJ ended almost 7.8 percent higher at139,000 yen. But techs were mixed on Monday, with falls of about 1.3 percent each for Tokyo Electron and Advantest. The market's biggest stock, mobile phone company NTT DoCoMo, ended down 2.2 percent to 266,000 yen. After a soft start, Hitachi, NEC and Fujitsu recovered to post good gains. Toshiba put on 4.2 percent to 399 yen and Mitsubishi Electric did best with a rise of 5.1 percent to 371 yen. Big exporter and consumer electronics leader Sony Corp was up 2.3 percent to 3550 yen. Troubled retailer Daiei was 5.65 percent higher to 131 yen on reports that France's Carrefour is seeking a tie-up with it. Elsewhere in the region, Taiwan, Hong Kong and South Korea also ended stronger. Singapore was just in the black. New Zealand ended flat, just slightly into the red. Australia's market was closed Monday for a public holiday. Taiwan performed best, with the Taiex putting on 1.82 percent to finish at a four-month high of 4826.94. South Korea's Kospi rose 1.24 percent to a five-month high of 650.35. The dollar is trading at 118.40 yen late in the Asian day. Against the euro, it is $1.1676. Last Friday, Wall Street had a mixed day, the Dow Jones industral average putting on about a quarter of a percent but the Nasdaq composite falling more than 1.1 percent. (Full story) In Seoul, market heavyweight Samsung Electronics finished 3.15 percent ahead to 344,000 won and big exporter Hyundai Motor was up 3.8 percent to 32,900 won. Leading steelmaker Posco was one of the market's strongest movers, up 4.74 percent to 121,500 won. In Taiwan the market's biggest stock, TSMC, finished 0.85 percent higher at T$59.00. The chip foundry said there was no immediate impact from an earthquake with a magnitude of 6.3 that hit the island's northeast on Monday. UMC and Formosa Plastic also rose. In Hong Kong, the Hang Seng index finished 0.4 percent higher at 9733.51. Two newcomers to the blue-chip index Monday, shoemaker Yue Yuen and transport company Cosco Pacific were both lower. The stocks they replaced, property companies New World Development and Sino Land, both rose about 2 percent. Banking giant HSBC rose 0.8 percent to HK$95.00. China Mobile and Hutchison Whampoa closed unchanged. In Singapore, the Straits Times index is 0.2 percent higher at 1441.96 heading towards the close. DBS Group is down slightly at S$10.60 but Singapore Airlines is almost 2 percent higher at S$10.70. SingTel is 0.65 percent in the red at S$1.53. In New Zealand, the Top 50 finished 0.04 percent lower at 2109.11, with falls for Telecom NZ, Air New Zealand and Carter Holt Harvey.
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