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Tokyo: Nikkei ends week on high note as risk appetite revives


[TOKYO] Japanese stocks rose on Friday after European Central Bank President Mario Draghi signalled that new stimulus measures could come as early as December, boosting riskier assets.

The Nikkei share average gained 2.1 per cent to 18,825.30 points, its highest close since Aug 31.

The benchmark index added 2.9 per cent for the week.

The food sector led the day's gains, adding 3.3 per cent as investors bought heavily into defensive shares.

Snack food company Calbee gained 9.6 per cent after the Nikkei business daily reported its April-September profits were likely to come in strong, while dairy and beverage producer Megmilk Snow Brand soared 10.5 per cent on raised April-September guidance.

The real estate and securities sectors also outperformed, gaining 3.1 per cent each.

The broader Topix gained 2 per cent to close at 1,547.84, with all of its 33 subindexes in positive territory.

It added 2.8 per cent for the week.

The JPX-Nikkei Index 400 rose 2.1 per cent to close at 13,878.26.