July 14 (Reuters) – Japan’s Nikkei surged 2.7 percent on Wednesday to break above key resistance, with chip-related shares powering higher after Intel results beat expectations to ease fears about the U.S. economic recovery.
In active trade, the benchmark also got a boost from Komatsu (6301.T), which lifted its full-year forecast by 14 percent, citing better-than-expected first-half sales in Asia and Latin America, as well as a pick up in demand in Japan and the United States. [ID:nTOE66C04V]
The benchmark Nikkei .N225 climbed 258.01 points to 9,795.24, cracking resistance at the level of its 25-day moving average around 9,660. The broader Topix rose 1.9 percent to 870.73. (Reporting by Elaine Lies)