Nikkei jumps to five-week high as GPIF allocation hopes buoy risk appetite
Tokyo: Japan`s Nikkei share average jumped to a five-week high on Thursday as investors took heart from news about the world`s largest pension fund`s allocation plan, and as a weaker yen boosted shares of exporters.
The Nikkei ended 1.6 percent higher to 15,134.75, the highest close since January 29.
The Topix rose 1.3 percent to 1,228.36, with 32 of its 33 subsectors in positive territory.
The JPX-Nikkei Index 400, an index launched this year comprising firms with high return on equity and strong corporate governance, advanced 1.2 percent to 11,113.92.
An advisory panel to the Government Pension Investment Fund said that GPIF need not stick to a "domestic-bond-centric portfolio" when the country is moving out of deflation.