Japan's Nikkei average hit a 10-month closing high today but pared earlier gains as falls in Chinese stock markets led nervous investors to lock in profits even as evidence grew of an improving global economy.
Trend Micro jumped after Nomura Securities hiked its rating on the maker of computer antivirus software to “buy” from “neutral”, while Hitachi Construction Machinery surged after Mitsubishi UFJ Securities raised its rating.
The benchmark Nikkei rose 0.8 per cent or 80.14 points to 10,597.33, its highest close since October 5th. It earlier rose as far as 10,630.38.
The broader Topix rose 0.5 per cent.