Friday, March 8, 2013
Nikkei Solid On Yen's Continuing Fall
TOKYO (NQN)--Tokyo stocks are holding onto strong gains at the opening of the afternoon session Friday, with the Nikkei Stock Average surging about 260 points to trade around 12,230, topping its 12,214.76 close on Sept. 12, 2008 just before U.S. investment bank Lehman Brothers collapsed.
The dollar is up to the mid-95 yen level and the euro is climbing to around 125 yen. That is sparking purchases of stock index futures, and in turn pushing the cash market higher. Exporters are a particular favorite with investors.