Nikkei 225 Holds onto Gains, Highest Close since April 11

Welcome back from Golden Week! The Nikkei 225 Stock Average gained 2741.91, or 1.58% to 17,669.83 (range: 17,558 – 17,715). N225 futures in Osaka added 1.4% to 17,690 (range: 17,630 – 17,730). TOPIX 1st Section rose 28.81, or 1.69% to 1,733.03 (range: 1,719.70 – 1,735.75). Advancers outnumbered decliners 1,352 x 289 (87 unchanged). The 2nd Section extended a five session rally. JASDAQ got in on the action once again, up 1.54% to 83.14 (range: 82.32 – 83.36). The yen last traded just under 120 against the US$. Laggards such as autos and bank stocks made broad gains. Consumer electronics were particularly strong. Other areas of strength include real estate, iron and steel, and nonferrous metals. Nintendo (JP: 7974) (NTDOY.PK) rose 2.7% to ¥39,700, hitting a new all-time high and coming just short (¥39,800 intra-day) of ¥40,000.