2014.06.0302:13:38UTC+00Nikkei Hits 2-month High, Supported by US Data

Japan's Nikkei 225 surpassed the 15,000 mark today as it hit its 2-month high. Investors that took risk in supporting the upbeat US economy has inadvertently boosted Asian stocks. Meanwhile the yen weakens, prodding exporters to buy index-heavyweight stocks like SoftBank Corp.

The Nikkei 225 gained 0.1% on Monday to close at 15,083.69. It's intraday high is at 15,089.04, the broadest increase since April 4.

Before the market opened, it was reported that 6 international brokerages put a net to buy orders worth 22.2 million Japanese yen of shares. It was the biggest buy out since June 2013.

Confusion ensued as the US Institute for Supply Management made an error in reporting data. Its initial presentation of data showed an activity index of 53.2, a lower than expectation data. It later rectified its report, changing the index to 55.4, a figure much closer to the predictions of investors. It realized its error after realizing it forgot to include calculations of seasonal adjustments.

Also aiding in the incline of Asian stocks and Nikkei are reports that Japanese public pension fund may raise its investment in domestic stocks to 20% from its current 12%. Exporters were also in positive territory. Hitachi Ltd rose 2.3% while Nikon Corp added 1.5% in its index, and Toyota Motor gained 1.0%. Index-heavy stocks were also in the trail of gains with Softbank acquiring 1.1% while Fast Retailing Co got 1.3%. The broader Topix also added to the growing economy with a 0.8% gain to 1,230.60. JPX-Nikkei Index 400 meanwhile gained 0.8% to 11,209.82

The dollar traded at 102.40 yen with a 0.6% increase, it highest one-day rise in two months.