Nikkei rises to 3-week high on U.S. manufacturing; G20 in focus
TOKYO, Feb 21 (Reuters) - Japan's Nikkei average jumped 2.9 percent on Friday as the weak yen lifted overall sentiment and after a reading on U.S. manufacturing hit its highest in nearly four years. The Nikkei ended 416.49 points higher at 14,865.67, the highest closing level since Jan. 31. For the week, the index gained 3.9 percent, the biggest weekly rise since mid-November and snapping a 6-week losing streak. The Topix rose 2.3 percent to 1,222.31, with all of its 33 subsectors in positive territory. The JPX-Nikkei Index 400, an index launched this year comprising firms with high returns on equity and strong corporate governance, gained 2.3 percent to 11,059.15. Market participants are awaiting the outcome of the Group of 20 finance chiefs' meeting in Sydney this weekend, at which finance ministers and central bank chiefs are expected to discuss the impact on emerging markets from the U.S. Federal Reserve's stimulus tapering.
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