28 May 2004, 10:30  Japan stocks end up on economy data, Dow firmness

Japan's Nikkei average rose for a third session to close higher on Friday, bolstered by firmness on Wall Street and another batch of domestic economic data which confirmed the recovery in Japan's economy. The Nikkei average <.N225> ended up 1.29 percent at 11,309.57 after gaining 1.85 percent in the previous two days. It earlier broke through above a technical resistance level of 11,334, but failed to stay above it amid caution over high oil prices and the prospect of higher interest rates in the United States, Japan's biggest trading partner. The broader TOPIX index <.TOPX> put on 1.40 percent to 1,142.38. Analysts said last-minute buying from foreign investors propped up issues such as Shinsei Bank <8303.T> and others among the 31 stocks to be added to Morgan Stanley Capital International's (MSCI) Japan index after Friday's market close.///

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