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Tokyo Stocks Close Sharply Higher

April 18, 2001

TOKYO (AP) _ Tokyo stocks closed sharply higher Wednesday as investors were cheered by an overnight rally on Wall Street. The U.S. dollar was lower against the yen.

The benchmark 225-issue Nikkei Stock Average rose 574.70 points, or 4.4 percent, to close at 13,641.79. On Tuesday, the average closed down 187.80 points, or 1.43 percent.

The U.S. dollar was trading at 123.06 yen at 3 p.m. (0600 GMT) Wednesday, down 0.50 yen from late Tuesday in Tokyo and below its late New York level of 123.24 yen overnight.

The Nikkei index was buoyed from the start of trading Wednesday by a rise in 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 closed up 34.88 points, or 2.7 percent, to 1,320.41 Wednesday. The TOPIX ended down 8.60 points, or 0.67 percent, the day before.

Traders said the greenback remained lower against the yen despite some dollar-buying by Japanese speculators.

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 rose to 1.4850 percent from Tuesday’s finish of 1.4500 percent. Its price fell 0.29 point to 96.67.


On the Net:

Japan’s Tokyo Stock Exchange: http://www.tse.or.jp

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