28th July 2014
The Nikkei 225 index has advanced to its highest level in six months today (July 28th), with the Japanese benchmark index climbing amid improved economic optimism and evidence of strong corporate earnings reports.
Carmakers Toyota and Fuji Heavy Industries - which manufactures Subaru vehicles - each gained 0.7 per cent, while casino-related stocks such as Konami Corp and Fuji Media Holdings strengthened after a report in the Nikkei newspaper indicated casinos across the country could be opened ahead of the 2020 Olympic Games.
Sentiment was boosted throughout Asian markets after the Chinese government revealed profits at the country's industrial companies were up by 17.9 per cent last month, compared to June 2013.
This has been interpreted as a further sign the mini-stimulus measures introduced by Beijing in recent months are having a positive impact and helped to send the Shanghai Composite up by more than two per cent.
In Hong Kong, the Hang Seng gained 0.93 per cent, with analysts suggesting investors have become more relaxed regarding the geopolitical tensions in Ukraine and Gaza.
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