Nikkei hits 18-month high, pokes above resistance

TOKYO (BestGrowthStock) – Japan’s Nikkei average hit a fresh 18-month high on Friday, and buoyed by upbeat data on U.S. manufacturing and jobless claims.

The benchmark Nikkei (.N225: ) rose 0.5 percent to end morning trade at 11,294.44. It briefly rose to 11,313.98, above a 38.2 percent retracement of a sell-off from its 2007 peak to its 2008 trough.

The broader Topix index (.TOPX: ) rose 0.4 percent to 989.33.

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Nikkei hits 18-month high, pokes above resistance