Nikkei hits 9-month high as Abe becomes prime minister
TOKYO, Dec 26 (Reuters) - Japan's Nikkei share average closed at its highest point in nine months on Wednesday after the yen fell to a 20-month low on expectations of an aggressive monetary easing stance by the government of new Prime Minister Shinzo Abe. The Nikkei gained 1.5 percent or 150.24 points to 10,230.36, its highest since March 27. The broader Topix added 1.2 percent to 847.71. Abe was approved as prime minister by the lower house of parliament just before the market close.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.