The Japan Thread

TOKYO (AFX) - Share prices in the Asia-Pacific region finished higher with
Japan's Nikkei index ending above 16,000 points for the first time in more than
five years.
Many regional stock exchanges were closed for the Christmas holiday but
Japan made up for their absence, as investors showed growing confidence in the
economy's recovery.
News that retail group Seven & I Holdings Co will acquire Millennium
Retailing Inc, the holding firm of Sogo Co and Seibu Department Stores Ltd, for
an undisclosed sum also helped improve the market's mood.
The Nikkei 225 Stock Average closed up 166.30 points or 1.0 pct at
16,107.67, off a high of 16,108.97. It was the highest finish for the Nikkei
since Oct 5, 2000 when it settled at 16,192.78.
The broader-based TOPIX index of all First Section shares rose 11.05 points
or 0.7 pct to 1,648.94.
"Basically, the (strong) market trend hasn't changed," said Hideyuki Suzuki,
a strategist at SBI Holdings.
Markets in Australia, Hong Kong, Singapore and Kuala Lumpur were closed for
the holiday.
In mainland China, A-shares in Shanghai and Shenzhen ended higher on
continued portfolio window-dressing with banks and agriculture stocks snapped up
on positive industry news, dealers said.
The Shanghai A-share Index added 12.55 points to 1,216.61 on turnover of
8.53 bln yuan and the Shenzhen A-share Index was up 2.31 points at 289.45 on
turnover of 5.28 bln yuan.
In Seoul, share prices ended higher, extending their record-breaking run for
a second day, with Samsung Electronics rising 1.4 pct on several analyst
upgrades, dealers said.
The index touched 1,370 points at one stage as institutional and retail
investor interest in most sectors except for financials outweighed continued
selling by foreign investors, they added.
The KOSPI index closed up 8.04 points or 0.59 pct at 1,367.57.
Share prices in Taiwan finished firmer but off their highs as profit-taking
capped gains from rotational interest and year-end window-dressing, dealers
said.
The weighted index closed up 22.14 points or 0.34 pct at 6,534.77.
Smaller cap stocks advanced as rotational plays at the expense of selected
large-cap technology stocks, dealers added.