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Article: Japan's Nikkei index hits 8-month high
- Article from:
- AP Worldstream
- Article date:
- June 1, 2009
- Author:
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Japan's key stock index jumped to an eight-month high Monday, as investors cheered fresh signs of an expansion in Chinese manufacturing.
The benchmark Nikkei 225 stock average added 155.25 points, or 1.6 percent, to 9,677.75 _ the highest level since Oct. 7. The broader Topix index gained 1.6 percent to 912.52.
The Nikkei has soared more than 37 percent since early March.
Gains were led by shipping firms and resource shares, which received a big boost as oil prices climbed above $68 a barrel and after two surveys of Chinese companies showed manufacturing grew in May, albeit weakly. The data follows Japan's announcement Friday that industrial production rose in April ...