RTRS: Nikkei at 1-month closing high on U.S. autos relief
TOKYO (Reuters) - Japan's Nikkei average rose 3.2 percent to a one-month closing high on Wednesday after a tentative deal was reached on a plan to rescue the battered U.S. auto industry, with Japanese automakers surging in relief.
Investors reassured by the news bought broadly. Even Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz) gained after saying the day before it would cut 16,000 jobs, curb investment and pull out of some businesses to save $1.1 billion a year as the financial crisis ravages demand for its electronics products.
The benchmark Nikkei .N225 gained 264.37 to 8,660.24 after earlier rising to 8,704.92, while the broader Topix .TOPX rose 2 percent to 834.55.
