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 | Tokyo Stocks Top 9,900 as Yen Falls after LDP's Election Win  | |
MENAFN - Qatar News Agency
- 18/12/2012
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(MENAFN - Qatar News Agency) Tokyo stocks rebounded sharply Monday, with the Nikkei Stock Average jumping 156.43 points, or 1.61%, to end the morning session at 9,893.99.
The benchmark index briefly widened its gains to slightly more than 160 points. It surpassed 9,900 during trading hours for the first time since April 4, according to the (Nikkei.com) website.
After the Liberal Democratic Party won the lower-house election on Sunday by an overwhelming majority, expectations started to rise for the introduction of monetary easing measures, which have been proposed by LDP President Shinzo Abe to help lift the Japanese economy out of deflation.
The dollar and the euro appreciated against the yen, prompting investors to buy shares of exporters on expectations that their earnings will improve.
Shares of property developers also performed solidly, as such firms are expected to benefit from the introduction of monetary easing steps.
The trading value on the first section of the Tokyo Stock Exchange reached about 778.8 billion yen, while the trading volume hit 1.58 billion shares.
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