TOKYO: Japanese shares rose 1.27 percent on Wednesday morning on upbeat factory production data and optimism over eurozone banks, brokers said.
The Nikkei 225 index at the Tokyo Stock Exchange ended the morning session at 9,846.46, up 123.94 points. The Topix index of all first-section issues gained 8.15 points, or 0.97 percent, to 846.63.
The benchmark Nikkei at one point hit 9,866.41, the highest intraday level since August 2, before facing moderate profit-taking.
The market opened higher after better-than-expected January industrial production data released before the market opened, said Daiwa Securities head of investment strategy and research Kazuhiro Takahashi.
Ahead of the opening bell, the government announced that output rose by a bigger-than-expected 2.0 percent from December as companies stepped up production of cars and electronic products.
Stocks were also aided by optimism over the European Central Bank's long-term refinancing operation (LTRO) for regional banks slated for later in the day, brokers said.
Nomura Securities senior strategist Juichi Wako said that hopes for increasing global liquidity are lifting sentiment, adding that players are now eyeing 10,000 as the Nikkei's near-term upside.
Insurers were higher amid easing concerns over potential valuation losses in their stock holdings. Dai-ichi Life Insurance rose 2.7 percent to 109,800 yen with Tokio Marine Holdings up 2.3 percent at 2,298 yen.
Elpida Memory was down 98 percent at six yen after its bankruptcy filing and the Tokyo Stock Exchange's plan to delist shares on March 28.
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