Nikkei hits new eight-week high

<p>The Nikkei is up to its highest point in eight weeks.</p>

The Nikkei rose today (September 18th) to reach its highest point for eight weeks.

After a slow start to the week, the index bounced back and recorded a 1.4 per cent increase in its value during the course of the session.

According to a report by Reuters, investors were encouraged by the expectation the US Federal Reserve will only announce a modest cut to its stimulus package this week.

The Nikkei was up by 1.4 per cent to end the day at 14,505.36, which is the highest it has closed since July. The broader Topix index also had a successful session, rising by one per cent to 1,193.07.

At one point during today's trading, the Nikkei even grew to hit 14,625.97, although the index fell away slightly before the end of the day.

The Nikkei had started the week with a 0.7 per cent fall yesterday and the index was not open on Monday as this was a public holiday in Japan.

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