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Nikkei claws higher, boosted by yen and oil

Mon May 12, 2008 11:39am IST
 
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TOKYO (Reuters) - Japan's Nikkei stock average climbed 0.6 percent to its first positive close in three days on Monday, boosted by a retreat of the yen against the dollar that helped exporters and by gains in Nippon Oil Corp and other oil-linked firms as oil hovered near record levels.

Additional upward energy came from Konica Minolta Holdings, which surged 12.14 percent for its greatest one-day percentage gain in more than seven years, while financials such as Mitsubishi UFJ Financial Group lost ground on rekindled worries about the financial sector in the United States.

The Nikkei gained 88.02 points to 13,743.36, clinging near a four-month high hit last week. The broader Topix was nearly flat with a gain of 0.08 percent at 1,342.79.

 
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