Nikkei up nearly 3 percent as books best week in year

TOKYO (BestGrowthStock) – Japan’s Nikkei average jumped 2.9 percent on Friday and booked its best week in a year, after the Federal Reserve’s plans to buy more Treasuries prompted investors to seek risk elsewhere, prompting rallies in global stocks and commodities.

Short-covering of futures by foreign investors and advances for resource shares were behind the gains, analysts said. The Nikkei (.N225: ) rose 4.6 percent on the week.

The benchmark Nikkei (.N225: ) gained 267.21 points to 9,625.99, its highest close since October 7.

The broader Topix (.TOPX: ) added 2.3 percent to 834.98.

(Reporting by Aiko Hayashi; Editing by Edwina Gibbs)

Nikkei up nearly 3 percent as books best week in year