Japan's Nikkei outperforms to reach 5-year high

LONDON (AP) - Japanese stocks outperformed all others Tuesday as traders in the country returned from a public holiday in buoyant mood, sending the Nikkei index above 14,000 for the first time in nearly five years.

The Nikkei surged 3.6 per cent to 14,180.24 on its first day of trading following the Golden Week holiday - that's the first time the Nikkei has breached the 14,000 mark since June 2008.

Japanese stocks have been marked up heavily this year after the Bank of Japan announced a new aggressive monetary policy to get the country out of its near two-decade stagnation.

One repercussion of the plan to pump huge amounts of yen into the Japanese economy has been to sharply weaken the currency. A lower yen potentially boosts economic growth by making the country's exports cheaper in international markets.

Elsewhere, investors remained largely positive amid a dearth of scheduled economic and corporate news, as they continued to draw encouragement from Friday's better than anticipated US payrolls figures. The data often set the market tone for a week or two after their release.

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