Nikkei 225 rises 0.82% (Il Sole 24 Ore Radiocor) - Tokyo, 04 Jul - Japanese shares closed higher to see a new record close as weak US economic data raised hopes of Federal Reserve interest rate cuts.

US jobless claims data released yesterday came in above expectations to rise for the ninth straight week while ADP data on jobs in the private sector came in below forecasts.

Both readings revealed signs of cooling in the resilient US labor market.

In Tokyo trade, auto manufacturers and trading houses led gains amid expectations the weak yen would boost earnings.

The Nikkei index added 0.82% to close at 40,913.65 points, surpassing a previous record set on March 22. The gains came after the benchmark breached the 40,000 level for the first time in three months in trade yesterday.

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(RADIOCOR) 04-07-24 08:45:13 (0170) 5 NNNN