Oil and metal prices gained spurred by speculation of a further rate cut by the U.S. Federal Reserve and sustained growth from China and India. Crude oil rose 3.2% to $82.88 per barrel, the second highest close ever. Japan’s largest oil explorer gained 0.85% as a result.

Zinc, aluminium and copper climbed 3%, 1.2% and 1% correspondingly.

Of the Nikkei 225 index, NSK Limited led the gainers with a rise of 5.22% followed by rises of 4.79% in Mitsubishi Motor Company, 4.55% in Daiichi Sankyo, 3.93% in Mitsubishi Heavy Industry, and 2.71% in Sharp.

Metal processor NSK Limited led the gainers with a surge of 5.22% followed by Mitsubishi Motors Company rising 4.8%. Mitsubishi Motors revised half-year operating profit upwards from 5 billion yen to 136 billion yen. Sales forecasts were reviewed up from 1.17 trillion yen to 1.27 trillion yen.

Nisshin Oillio led the decliners with a loss of 5.81% followed by losses in Unitika Limited of 4.20%, in GS Yuasa Corporation of 4.18%, in Daiwa Securities of 4.04% and in Ebara Corporation of 3.63%.

Daiichi Sankyo, Japan’s third biggest drugmaker, won U.S. approval for a new blood pressure treatment that combines its Benicar with active ingredient in Norvasc.

Circle K Sunkus fell 2.7% after warning that it expects first half profits to fall by 20%. The company has more than 600 convenience stores.

Mitsubishi UFJ Financial Group lowered its first half profit forecast by 44% to 100 billion from 146.8 billion yen for the period ending on Sept 30, according to filing with the Tokyo Stock Exchange. Tighter consumer lending rules in Japan have battered stocks of several consumer lending companies including the largest Acom. Mitsubishi affiliate, Acom lost 50% of its market value in the last six months of trading after the new law took effect.