In Tokyo on Thursday, the Nikkei 225 had its highest close in 11 weeks as it added 1.64 percent to 17,458.98, while the Topix index was 1.17 percent higher to 1,677.52 and the Mothers market jumped 2.87 percent to 881.81.
The gain came after Moody’s Investor Service increased its rating on Japan’s debt to A1, saying that the new prime minister will work to cut the nation’s debt.
The retail sector was higher on news and an upgrade.
Convenience store operator Lawson Inc (TYO: 2651) added 1.1 percent to ¥3,780 on its report that profits were up 21 percent in the quarter ending 31 August and after it announced a stock buy-back program.
FamilyMart Co (TYO: 8028) was up 1.6 percent to ¥3,130 on a broker upgrade to “outperform”, while Aeon (TYO: 8267) gained 4.4 percent to ¥1,863 on the announcement that it will partner with a Chinese company to open up to 30 shopping malls in China.
Shippers were also higher.
Kawasaki Kisen (TYO: 9107) was up 3.5 percent to ¥1,731, while Nippon Yusen (TYO: 9101) jumped 5.1 percent to ¥1,213.
Losers included supplies of parts for Boeing’s (NYSE: BA; TYO: 7661) 787 Dreamliner aircraft, after the US aerospace group announced that deliveries of the first planes would be delayed by six months.
Mitsubishi Heavy Industries (TYO: 7011) dropped 1.2 percent to ¥719, while Kawasaki Heavy Industries (TYO: 7012) was down 2.2 percent to ¥444.