Nikkei hits six-month high on talk of further intervention

The Nikkei rose almost 3% to hit a six-month high overnight after comments in parliament by the Japanese finance minister on currency intervention.

Taro Aso said it was important to have foreign exchange intervention as a policy option, and said the country would be willing to intervene to curb excessive, one-sided currency moves. The comments saw the currency subsequently weaken to a near two-month low, with the dollar strengthening to Y99.60. A weaker yen in turn helped offset any fears over the sharp drop in growth also reported overnight - when Q3 GDP in Japan halved - driving shares up to a six-month high. The Nikkei rose as much as 2.7% to 14,966, its highest level since May 24, before closing at 14,876. Elsewhere, ot...