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Tokyo Stocks Rise Sharply

April 18, 2001

TOKYO (AP) _ Tokyo stocks climbed sharply Wednesday morning with sentiment bolstered by a rally on Wall Street the previous day. The dollar was lower against the yen.

The benchmark 225-issue Nikkei Stock Average rose 467.70 points, or 3.58 percent, to 13,534.79 at the end of the morning session. On Tuesday, the average closed down 187.80 points, or 1.43 percent.

The dollar bought 122.82 yen in late morning trading, down 0.74 yen from late Tuesday in Tokyo and also below its late New York level of 123.24 yen.

On the stock market, the Nikkei index started higher, with buying led by electronics and semiconductor-related issues after U.S. stocks finished higher in New York on Tuesday.

The Dow Jones industrial average rose 58.17 to 10,216.73 at Tuesday’s close. The Nasdaq composite index finished at 1,923.22, up 13.65.

The broader Tokyo Stock Price Index of all issues listed on the first section rose 24.64 points, or 1.92 percent, to 1,310.17 Wednesday. The TOPIX ended down 8.60 points, or 0.67 percent, the day before.

In currency dealings, traders said the greenback remained lower against the yen despite some dollar-buying by Japanese speculators.

In other currencies, the euro was traded at 108.24 yen, down from 109.10 yen late Tuesday in Tokyo.

The yield on the benchmark 10-year Japanese government bond stood at 1.4500 percent at late morning, unchanged from Tuesday’s finish. Its price remained at 96.96.

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On the Net:

Tokyo Stock Exchange: http://www.tse.or.jp

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