Nikkei hits 3-mth closing high, auto stocks surge

Japan's Nikkei stock average climbed 4.4 percent on Thursday to its highest close in three months as carmakers powered higher on hopes for the U.S. economy after a string of data came in better than expected. Banks such as Mizuho Financial Group gained on short-covering after recent sharp falls, while signs that foreign investors were snapping up blue chip exporters such as Sony Corp also lifted the market.
The benchmark Nikkei gained 367.87 points to 8,719.78, its highest close since Jan. 9. The broader Topix climbed 4.1 percent to 826.69 points.