Japan’s Nikkei closed little changed after a volatile session

The Japanese Nikkei index ended trading on Thursday with little change after a volatile session, during which it lifted the index to its highest level in five months, before giving up those gains due to the decline in the shares of shipping companies and chip makers that wiped out the gains of energy and automakers.

The Nikkei index closed at 28,246.53 points, up 0.04 percent, after rising to 28,389.75 points an hour before the close, and it was its highest level since Jan. 18.

The Nikkei averaged nearly 10 percent in the four weeks to Wednesday, leaving investors wondering what his next move might be.

The broader Topix index ended trading Thursday with a slight decline of 0.05 percent, at 1969.05 points.

Shares of auto and motorcycle manufacturers rose amid a rapid decline in the yen to its lowest levels in two decades, which boosted the value of US sales. The currency reached a low level of 134.56 per dollar on Thursday for the first time since February 2002, following the pace of the widening difference between the US and Japanese long-term bond yields.

Yamaha led the gains by 3.19 percent, while Mitsubishi Motors shares rose 2.75 percent, Subaru 2.13 percent and Toyota 0.4 percent.

The energy sector was the strongest on the Nikkei, which rose 2.27 percent as crude prices rose. Inpex shares rose 3.26 percent.

Among the 225 stocks listed on the Nikkei, 113 rose compared to 101 decreased, while 11 stocks stabilized.

Chip makers fell, with Tokyo Electron falling 2.19 percent and Advantest 2.5 percent.

Shipping companies also fell, under pressure from the uncertainty of the global economic scene, and Kawasaki Kaisen shares accounted for the biggest decline over the Nikkei after it plunged 11.13 percent.