Nissan stock up the most since 2009 on share buyback news

Tokyo

NISSAN Motor Co rose the most in almost seven years as the Japanese carmaker plans its biggest share buyback ever and its first in more than four years to counter a recent slump for the stock.

Nissan climbed as much as 12 per cent on Monday, the biggest intraday jump since April 2009. The shares were up 7.9 per cent as the benchmark Topix index gained 0.6 per cent as of 11.23am in Tokyo. Japan's second-largest carmaker will acquire as much as 400 billion yen (S$5 billion) of stock, the company said in a filing with the Tokyo Stock Exchange on Friday.