Nikkei Ends Above 16,000 First Time Since 2007; Lira Retreats

Japan’s Nikkei 225 Stock Average closed above 16,000 for the first time in six years as the weaker yen boosted exporter earnings prospects. The Turkish lira and stocks fell after a third minister quit amid a graft probe and called for the resignation of Prime Minister Recep Tayyip Erdogan, who instead revamped his cabinet.

The Nikkei 225 climbed 0.8 percent, extending its rally this year to 54 percent, the most among major developed markets tracked by Bloomberg. Japan’s currency fell 0.1 percent at 4:24 p.m. in London, weakening for a third day. The lira slid 0.9 percent against the dollar, reversing earlier gains. China’s seven-day repurchase rate fell for a second day after the central bank injected funds into the financial system. Most global markets are closed for the holidays.