Tokyo Stocks Jump
Oct. 04, 2001
TOKYO (AP) _ Tokyo stocks climbed Thursday morning, bolstered by Wall Street's sharp gains the previous day. The dollar was lower against the yen.
The benchmark 225-issue Nikkei Stock Average rose 209.71 points, or 2.11 percent, to 10,133.94 at the end of morning trading. On Wednesday, the average closed down 212.33 points, or 2.09 percent.
The dollar bought 120.69 yen in late morning trading, down 0.17 yen from late Wednesday in Tokyo and also below its late New York level of 120.77 yen overnight.
On the stock market, the Nikkei index bounced back with buying led by technology issues, taking a cue from Wall Street's gains on Wednesday _ that market's first truly upbeat day since the Sept. 11 terrorist attacks in the United States.
Wall Street's rally came after President George W. Bush in televised remarks proposed a stimulus plan of between dlrs 60 billion and dlrs 75 billion to avert a steep recession triggered in part by the terror attacks.
In New York, the Dow Jones industrial average rose 173.19 to 9,123.78 at Wednesday's close. The Nasdaq composite index ended at 1,580.81, up 88.48.
The broader Tokyo Stock Price Index of all issues listed on the first section was up 17.09 points, or 1.63 percent, to 1,067.44. The TOPIX closed down 17.28 points, or 1.62 percent, the day before.
In currency dealings, the dollar was slightly lower against the yen in light trading.
In other currencies, the euro was traded at 110.36 yen, down from 111.34 yen late Wednesday in Tokyo.
The yield on the benchmark 10-year Japanese government bond fell to 1.3750 percent from Wednesday's finish of 1.3850 percent. Its price rose 0.08 point to 100.21.
On the Net:
Tokyo Stock Exchange: http://www.tse.or.jp