TOKYO: Japan’s Nikkei 225 Stock Average extended a 15-year high while the Topix index rose for a sixth day as investors await progress on Greece’s bailout program and a speech by Federal Reserve Chair Janet Yellen this week.
Nippon Sheet Glass Co., which counts Europe as its largest market, advanced 0.9 percent. Central Japan Railway Co. was the second-biggest contributor to gains on the Topix, rising 2.9 percent. Medical-equipment maker Terumo Corp. added 1.1 percent after a report its operating profit is likely to reach a record. Takata Corp. slumped 2.6 percent after U.S. regulators said they will begin to fine the car-parts maker for not fully cooperating with an investigation into exploding airbags. Inpex Corp. dropped 3.4 percent to lead losses among energy shares.
The Nikkei 225 added 0.7 percent to 18,466.92 in Tokyo, its highest close since April 2000. The Topix added 0.2 percent to 1,502.83, having swung between gains of as much as 0.8 percent and a loss of 0.3 percent. It capped the longest string of daily gains since early December.
“Greece has been given a lifeline, even if just short-term, which is a positive boost to the market,” said Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank in Tokyo, which oversees $325 billion in assets. “However, we have the speech by Yellen later, so investors are starting to want to take a wait-and-see approach.”
