TOKYO, Jan. 8 (Xinhua) -- Japan's 225-issue Nikkei Stock Average hit a 15-month closing high Friday, buoyed by exporter and tech-related issues rising with a robust U.S. dollar in early trade.

    Japan's key benchmark Nikkei gained 116.66 points, or 1.09 percent, from Thursday's directionless trading, to close at 10,798.32, ahead of a 3-day weekend in Japan, which left circumspect investors with little choice but to lock in profits ahead of key U.S. employment data due out on Friday.

    The broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 9.44 points, a rise of 1.01 percent, to reach a three-month closing high of 941.29.

    With the dollar trading in the upper 93-yen range, roughly 2-yen higher than most exporters' assumed rate of around 91-yen, export-related issues gained, as overseas yields don't relinquish their fiscal value when repatriated.

    The dollar hit a four-month high against the yen in early trade, but following newly appointed Finance Minister Naoto Kan saying on Friday that currency levels should be determined by markets, in contrast to his earlier trumpeting for a weaker yen and hints at currency intervention, the dollar retreated in late trade, strategists noted.

    Automakers and exporters led the rally from the off and investors opted to lock in gains ahead of speculation, not confirmation, of positive U.S. non-farm payroll data due out later on Friday -- the implications of which won't be seen on markets in Japan until next Tuesday.

    "While the jobs data is important, one of the biggest things will be how the markets themselves react, especially how the dollar moves against the yen," said Masayoshi Okamoto, head of dealing at Jujiya Securities.

    "But Japan won't be able to trade on these factors until Tuesday, so some people are looking to cash out now, especially since the Nikkei has gotten pretty high."

    Isuzu Motors Ltd., a notable gainer on the Nikkei, accelerated 9.09 percent to 192 yen and Mazda Motor Corp. surged 7.44 percent to 231 yen. Honda Motor Co. Ltd. added 3.10 percent to 3,185 yen, whilst the world's number one automaker, which relies on North America for 31 percent of its global sales, advanced 2.86 percent to 3,960 yen.

    Sony Corp., Japan's biggest exporter of televisions, advanced 2.08 percent to 2,800 yen and Toshiba Corp. rose 3.46 percent to 538yen. Semiconductor maker Tokyo Electron Ltd. gained 2.04 percent to 6,000 yen and chip-test maker Advantest Corp. closed up 3.73 percent at 2,500 yen at the bell.

    "People are buying exporters," said Yoshinori Nagano, a senior strategist in Tokyo at Daiwa Asset Management Co. "The yen was already falling, so it's reactive to anything that triggers a further weakening."

    Japan Airlines Corp. weighed heavily on the market Friday, as bankruptcy fears sent the stock plummeting 12.82 percent to 68 yen.

    Asia's biggest carrier fell for a third consecutive day as Finance Minister Naoto Kan declined to rule out a court-led bankruptcy, corroborated by reports in the Nikkei business daily claiming the government might be leaning towards bankruptcy procedures as part of a state-led turnaround initiative, sources familiar with the matter stated.

    "We need to carefully consider how to rehabilitate JAL, including those issues," Kan said today at a press conference in Tokyo, when asked about the possible negative consequences of JAL seeking court protection.

    Investors are becoming increasingly anxious, as legal bankruptcy will effectively negate the carrier's share value.

    "Legal bankruptcy would drop the stock to zero," said Mitsuo Shimizu, an analyst at Cosmo Securities Co. "Shareholders are fearing they will pay the price for JAL's failure."

    Resource and commodity-related issues also dragged on the market Friday with Nippon Mining Holdings Inc. declining 2.12 percent to 415 yen and Nippon Oil Corp. losing 1.74 percent to 452yen. Sumitomo Metal Mining Co. Ltd. shed 1.30 percent to close at 1,448 yen.

    Pacific Metals Co. Ltd. edged down 0.70 percent to 715 yen and Nippon Steel ended trade in negative territory, retreating 1.05 percent to 376 yen.

    Trade was active on the Tokyo exchange's first section, with around 2.6 billion shares changing hands, compared to last week's daily average of some 1.6 billion shares.

    Advancing issues outnumbered declining ones by more than 2 to 1.

    Markets in Japan will be closed on Monday for a national holiday.

Special Report:  Global Financial Crisis