Nikkei races to new 7-yr high on report Abe moving to call election
TOKYO, Nov 13(Reuters) - Japanese stocks rose to fresh seven-year highs on Thursday as investors lapped up a media report that said Prime Minister Shinzo Abe appears to have decided to call an early election amid mounting expectations he would postpone a planned sales tax hike. The report from Jiji news agency was the latest in a spate of shifting speculation that has kept markets rapt this week. The Nikkei benchmark ended 1.1 percent higher to 17,392.79, the highest closing level since June 2007. Jiji reported in the afternoon that Tadamori Oshima, a former deputy chief of the ruling Liberal Democratic Party (LDP), said Abe appears to have made a decision to call an election. The Topix rose 0.9 percent to 1,389.51, and the JPX-Nikkei Index 400 gained 0.9 percent to 12,692.60. (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam)
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