The key Nikkei stock index rose sharply Thursday morning to a three-month intraday high above 10,500, with exporters buoyed by a weaker yen and sentiment lifted by Wall Street's gains while Japanese markets were closed for a national holiday the previous day.
By sector, iron and steel saw the largest percentage increase, followed by glass and ceramics, and trading houses. Export-oriented sectors such as electrical machinery and autos were also among major gainers. Meanwhile decliners included the real estate, air transport and banking sectors.
''With Japan's fiscal 2010 budget finally set for approval, the key ahead will be details of an economic growth strategy from Prime Minister (Yukio) Hatoyama,'' Nishi said. ''Stocks can rise further if such a strategy is presented, and investors may go on to test the Nikkei's closing high for this year of 10,639.71.''
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