Nikkei rises as yen plumbs 6-year lows
TOKYO, Sept 10 (Reuters) - Japan's Nikkei share average closed higher on Wednesday, erasing earlier losses after the yen plumbed its weakest levels for six years against the dollar, which lifted exporters such as Honda Motor Co and Panasonic Corp. The Nikkei closed 0.3 percent higher to 15,788.78, moving close to a seven-month high of 15,829.38 hit last week. Traders said investors bought futures and chased the cash market higher when the dollar broke a psychological resistance level of 106.50 yen and climbed as high as 106.56 in the afternoon. Other market participants pointed to speculation that pension funds might be buying Topix funds as the Topix has outperformed the Nikkei. The broader Topix gained 0.6 percent to 1,306.79 and the JPX-Nikkei Index 400 added 0.6 percent to 11,856.60. (Reporting by Ayai Tomisawa; Editing by Simon Cameron-Moore)
© Thomson Reuters 2016 All rights reserved.