Nikkei average rises 0.74 percent on Thursday

Tokyo, Jan 4: The Nikkei average rose 0.74 percent on Thursday, the first trading day of 2007, with Toyota Motor Corp.

rising on news that it became one of the Big Three automakers in 2006 and other exporters advanced on a softer yen.

Tokyo markets were open for a half day of business on Thursday from 09:00-11:00 a.m. (0000 GMT-0200 GMT). They were closed Monday through Wednesday for New Year's holidays.

Investors also bought Hitachi Ltd. and Mitsubishi Heavy Industries Ltd. after a Nikkei business daily report on their alliances on the power generation business.

The Nikkei finished up 127.84 points at 17,353.67. The broader TOPIX index rose 1.06 percent to 1,698.95.

REUTERS