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Tokyo Stocks End Up Monday

MENAFN - Qatar News Agency - 27/11/2012


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(MENAFN - Qatar News Agency) Tokyo stocks continued to climb for the third straight trading day Monday, as the Nikkei Stock Average rose 22.14 points to end the day at 9,388.94, the highest level since April 27.

Wall Street closed sharply higher Friday on expectations for a strong holiday shopping season, providing support for the Tokyo market. The rise of the euro against the yen also drove up the benchmark Nikkei average and prompted investors to buy shares of exporters early in Monday trading, according to (Nikkei) website.

But blue chips gradually started to lose steam as investors began dumping them on the upside to lock in short-term gains. As a result, the Nikkei average fell short of 9,400 when the market closed.

The trading value on the first section of the Tokyo Stock Exchange hit 1.3 trillion yen on a preliminary basis, above 1 trillion yen for the seventh straight trading day.

The broader Topix index also advanced.

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