Nikkei climbs on short-covering, volumes second lowest this year

Japanese shares prices surged on Thursday as investors covered short positions ahead of Britain’s referendum, which could shape both Britain’s economic future and that of the wider European integration project.

The Nikkei share average rose 1.1 percent to 16,238.35, its highest level in 10 days while the broader Topix gained 1.1 percent to 1,298.71.

The turnover was 1.57 trillion yen, the second lowest so far this year and less than a third below the average over the past year.

The gains were led by steelmakers and shippers .

Source: Reuters