Nikkei hits 2-month high on China PMI; Dai-ichi Life dives
TOKYO, June 2 (Reuters) - Japan's Nikkei share average climbed to a two-month closing high on Monday after strong Chinese factory data lifted sentiment. But Dai-ichi Life Insurance Co Ltd tumbled on news that it is in talks to buy a U.S. life insurance company, with investors wondering how the company would fund the acquisition. The Nikkei ended 2.1 percent higher at 14,935.92, its highest close since April 4. Dai-ichi Life dropped 5 percent and was the fourth most-traded stock by turnover. The company, Japan's second-largest private-sector life insurer by premium revenue, is in advanced talks to buy Alabama-based Protective Life, a source told Reuters. The broader Topix added 1.6 percent to 1,220.47, while the new JPX-Nikkei Index 400 advanced 1.6 percent to 11,119.19. (Reporting by Ayai Tomisawa; Editing by Chris Gallagher)
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