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Japan's Nikkei ends at 7 year high; 18,300 next key level

Thursday, June 21, 2007

Japan's Nikkei ended up 0.2% at 18240.30 - highest close since 18439.36 on May 2, 2000 - helped by steelmakers, trading houses. But index is still volatile until it tops intraday high of 18300, trades above that level comfortably, says Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Securities.

''Traders are still cautious since ending at this level was just a matter of time,'' he says. JFE Holdings (5411.TO) up 1.1% at Y7,620; Mitsubishi Corp. (8058.TO) up 4.6% at Y3,400; Toshiba (6502.TO) up 2% at Y1,002, 6-year high on expectations for rising chip demand. Financial shares gain on news MUFG (8306.TO) mulling capital tie-up with consumer finance firm Jaccs (8584.TO); Jaccs ends up 4.5% at Y537. Topix closes up 0.3% at 1789.38. (AYT)

Source- Dow Jones

Posted by FR at 5:43 PM  

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