(MENAFN- Kuwait News Agency (KUNA)) Tokyo stocks surged Wednesday, with a key index rising by its highest margin in 21 years, helped by overnight gains in US and European shares and expectations on China's further stimulus measures.
The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) advanced 1,343.43 points, or 7.71 percent, from Tuesday to 18,770.51, posting the biggest single-day points gain since Jan. 31, 1994.
The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, was up 90.66 points, or 6.40 percent, to 1,507.37, with all 33 subindexes ending in positive territory.
On Tuesday, US and European markets ended higher amid expectations that China may unveil more stimulus measures, which eased fears of a slowdown in the world's second-biggest economy.
In the currency markets, at 4 p.m. (0700 GMT), the US dollar traded at JPY 120.54-56 versus JPY 119.76-86 in New York and JPY 120.15-17 in Tokyo at 5 p.m. Tuesday.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.