Confidence returns to Nikkei

<p>The Nikkei is up to a two-week high.</p>

The Nikkei rose to a two-week high during trading today (August 19th) as investors increased their confidence in the state of the Japanese stock market.

It increased in value by 0.8 per cent over the session to close at 15,443.38 and had even climbed to as high as 15,476.05 during the day, reports Reuters.

Hikaru Sato, a senior technical analyst at Daiwa Securities, said: "Confidence is back as we've got strong US shares and upbeat data from the US."

Among the most eye-catching results of the day was the sharp spike in the share price of Skymark Airlines Inc, which rose by 28 per cent on the back of reports the firm may become the subject of a takeover bid by Malaysia-based AirAsia.

There were also gains for some of the major players on the Nikkei today, as Softbank Corp rose by more than two per cent, Panasonic added 0.8 per cent to its value and Fanuc Corp increased by 1.5 per cent.

The Nikkei hit a six-month high two-and-a-half weeks ago, but the index later slid back.

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