* Automakers stage rally
* OPEC meeting, Italy's referendum could trigger
profit-taking - analyst
By Ayai Tomisawa
TOKYO, Nov 24 Japan's Nikkei share average rose
for a sixth day on Thursday as prospects of exporters' earnings
improved after the dollar jumped against the yen, helping such
stocks as Toyota and Honda.
Japanese markets were closed for a national holiday on
Wednesday, and investors returned to the market on Thursday to
see that the dollar rose as high as 112.98 yen on
Wednesday, its loftiest peak since March. The dollar was
bolstered by upbeat U.S. economic reports that raised the
chances for the Federal Reserve to raise interest rates.
The Nikkei rose 1.0 percent to 18,336.09 in
mid-morning trade, extending its gains into a sixth day and is
poised to post the longest winning streak since mid-July.
Meanwhile, the Topix gained 0.9 percent to 1,460.27,
rising for a 10th day.
"The Nikkei could rise further towards the end of the year,
possibly above 19,000 depending on the dollar-yen and U.S. yield
levels," said Nobuhiko Kuramochi, a strategist and economist at
But he cited that there is growing uncertainty over upcoming
global events, which could be a turnaround of the current risk
sentiment and trigger profit-taking.
He said that investors are closely focused on a meeting of
members of the Organization of the Petroleum Exporting Countries
(OPEC) on Nov. 30 as well as Italy's referendum that could
unseat Prime Minister Matteo Renzi early next month.
Automakers were in demand, with Toyota Motor Corp
surging 3.3 percent, Honda Motor Co rising 3.0 percent
and Nissan Motor Co up 2.4 percent.
Calsonic Kansei shares were untraded amid heavy buy orders
after news U.S. buyout firm KKR & Co is buying the
company from Nissan Motor and other shareholders for as
much as 498.3 billion yen.
On the other hand, drugmakers dropped, with Takeda
Pharmaceutical losing 0.9 percent, Astellas Pharma
down 0.5 percent and Eisai Co tumbling 5
The JPX-Nikkei Index 400 advanced 1.0 percent to
(Editing by Simon Cameron-Moore)