ON: Japanese trading platforms surge on strong US data
Strong economic data from the US has helped stocks in Japan record the biggest gains for six months during trading today (June 3rd).
Both the Nikkei 225 and Topix trading platforms rose after the release of positive home and car sales in the US improved investor sentiment.
At the close of trading, the Nikkei had added 3.2 per cent to rise to 9,914.19 points, with car manufacturers and other firms who generate a large proportion of their sales outside of Japan leading the way.
Mazda was up 5.3 per cent while camera maker Canon advanced 3.4 per cent.
The broader Topix index finished on 890.64 points having risen 2.4 per cent, its largest one-day increase since early December 2009.
Hisakazu Amano of T and D Asset Management was quoted by Bloomberg as saying the housing and auto sales data has "proved the economy is recovering".
Yesterday, the Nikkei ended lower following the news prime minister Yukio Hatoyama is stepping down.
Finance minister Naoto Kan is the frontrunner to take up the post.
