Wednesday, February 20, 2013
Nikkei Lifted By Upbeat Western Bourses
TOKYO (NQN)--Tokyo stocks gained ground Wednesday morning, after Western markets rose overnight on hopes for an economic recovery in Europe.
The Nikkei Stock Average closed the morning session up 78.99 points, or 0.7%, at 11,451.33.
The benchmark index briefly topped 11,500 for the first time since Sept. 30, 2008, as the yen's decline against the dollar encouraged buying of exporters.
Before the opening bell, the Ministry of Finance said Japan logged a larger-than-expected trade deficit in January, which is expected to contribute to the yen's weakening down the road.
The trading value of first-section issues on the Tokyo Stock Exchange totaled 1.005 trillion yen, while trading volume came to 1.584 billion shares.