Nikkei tops 18,000 as Toyota gains ground

Tokyo, June 1: The Nikkei share average briefly topped 18,000 for the first time in three months on Friday, as exporters such as Toyota Motor Corp. advanced after data showed an upbeat outlook for the U.S. economy, a key market for Japanese products.

Shares of Itochu Corp. and other trading firms advanced after Morgan Stanley raised its share price targets for five of the industry's largest firms, citing strong earnings and attractive valuations.

The Nikkei finished the morning up 0.63 percent at 17,987.54.

It earlier topped 18,000 for the first time since late February.

The broad TOPIX index rose 0.84 percent to 1,770.40.

Reuters>