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Tokyo Stocks Close Higher

October 16, 2000

TOKYO (AP) _ Tokyo stocks closed higher Monday on buying in technology issues as sharp gains on Wall Street on Friday buoyed sentiment. The dollar was higher against the yen.

The benchmark 225-issue Nikkei Stock Average rose 182.01 points, or 1.19 percent, to close at 15,512.32 points on the Tokyo Stock Exchange. On Friday, the average closed down 220.33 points, or 1.42 percent.

The dollar bought 108.10 yen on the Tokyo foreign exchange market at 3 p.m. (2 a.m. EDT) Monday, up 0.36 yen from late Friday in Tokyo and also higher than its late New York level of 107.71 yen on Friday.

On the stock market, NEC and NTT were among the biggest gainers as investors were cheered up by a 157.60-point gain in the Dow Jones industrial average on Friday, when the index closed at 10,192.18.

The broader Tokyo Stock Price Index of all issues listed on the first section rose 11.02 points, or 0.77 percent, to close at 1,451.42. The TOPIX closed down 13.65 points, or 0.94 percent, on Friday.

On the Tokyo Stock Exchange’s first section, 893 issues closed higher, while 379 finished lower and 140 issues closed unchanged from Friday.

Volume on the first section was estimated at 431.86 million shares, down from 583.54 million shares Friday.

In New York, the Nasdaq composite index climbed 242.09 on Friday to close at 3,316.77.

In currency dealings, the dollar moved little against the yen in the absence of major market-moving news.

In other currency, the euro was quoted at 92.22 yen, down from Friday’s finish of 93.28 yen.

The yield on the benchmark 10-year Japanese government bond rose to 1.8600 percent from Friday’s finish of 1.8400 percent. Its price fell 0.17 point to 100.34.


On the Net:

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

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