Friday, March 8, 2013
Nikkei Tops Pre-Crisis Level On Yen's Decline
TOKYO (NQN)--Tokyo stocks widened their gains midway through the morning session Friday, with the Nikkei Stock Average surging 250 points to about 12,120.
The benchmark index briefly surpassed 12,214.76, the closing price on Sept. 12, 2008, just before Lehman Brothers Holdings Inc. went bankrupt.
Investors are buying blue chips in the hope that the U.S. economy will recover and Japan will make progress in exiting deflation.
The dollar rose above 95 yen and the euro strengthened above 124 yen on U.S. recovery hopes and expectations that Japan will implement bolder monetary easing measures.