Nikkei posts best year since 1972 as Abenomics drives gains

Tuesday, 31 December 2013 00:01 - - {{hitsCtrl.values.hits}}

Reuters: Japan’s Nikkei stock average rose to a fresh six-year high to close out 2013 with a 57% annual gain, its biggest in more than 40 years on the back of aggressive economic stimulus by Prime Minister Shinzo Abe. The Nikkei rose for a ninth day to end 0.7% higher at 16,291.31 on Monday, its longest winning streak since July 2009. Mazda Motor Corp was the Nikkei’s best performer in 2013, gaining 213%. Softbank Corp came in second with a 193% gain, while Fuji Heavy Industries Ltd., which makes Subaru vehicles, was third. Nikon Corp was the worst performer this year, down 20.5%, followed by Toho Zinc Co Ltd. and Pacific Metals Co Ltd. The broader Topix was up 1% at 1,302.29, rising above 1,300 for the first time since August 2008. Trading volume hit a two-week high with 2.91 billion shares changing hands. Japan’s markets will be closed for the New Year holiday from 31 December to 3 January.

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