“Japanese shares gained, with the Nikkei 225 Stock Average closing at its highest since April 2010, as positive earnings reports boosted the market.
Yahoo Japan Corp. (4689) surged 17 percent after the Internet company boosted its operating profit forecast and said it would buy back shares. Central Japan Railway Co. gained 6.6 percent after reporting a 49 percent gain in net income. Softbank Corp. (9984) advanced 3.6 percent after the Nikkei newspaper said the mobile carrier may post a record operating profit, boosted by sales of Apple Inc.’s iPhone. KDDI Corp. rose 3.1 percent after Credit Suisse AG named the phone-network operator as one of its top picks in Japan.
The Nikkei 225 gained 2.3 percent to 11,113.95 at the close in Tokyo, its highest level since April 30, 2010. The broader Topix Index (TPX) climbed 1.5 percent to 934.67, headed for a five- month advance, the longest such streak since August 2009. All of the gauge’s 33 industry groups rose.
“Investors are starting to price in expectations of increasing earnings going forward for the next few years,” said Soichiro Monji, chief strategist at Tokyo-based Daiwa SB Investments Ltd., which manages the equivalent of about 6 trillion yen ($66 billion). “The yen is positive, but there’s also an increasingly better outlook for an economic recovery in places like China as well as in Japan. There are a lot of positive reasons why earnings should improve.”
Topix Rally
The Topix surged 29 percent from Nov. 14….”
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