Nikkei rises 1.9 pct as resource stocks jump

TOKYO, Oct 14 (BestGrowthStock) – Japan’s Nikkei average rose 1.9
percent on Thursday, its best daily performance in a month,
buoyed by a jump in resource stocks as dollar weakness fuelled a
climb in commodity prices.

The market took in stride the yen’s climb to a fresh 15-year
high against the dollar, as some analysts said markets seemed to
have already priced in quantitative easing by the U.S. Federal
Reserve early next month and the dollar’s decline may soon have
run its course.

Robust earnings results from U.S. heavyweights such as
JPMorgan Chase & Co (JPM.N: ) and Intel Corp (INTC.O: ) have
bolstered investor confidence and helped to spur short-covering,
analysts said, with some also citing large lots of buying into
Nikkei futures.

The benchmark Nikkei (.N225: ) ended up 180.00 points at
9,583.51. The 1.9 percent rise was its biggest daily percentage
gain since Sept. 15.

The broader Topix (.TOPX: ) rose 1.7 percent to 836.95.
(Reporting by Aiko Hayashi; Editing by Edmund Klamann)

Nikkei rises 1.9 pct as resource stocks jump