Monday, March 11, 2013
Nikkei Up 8th Straight Day On Weaker Yen, Wall St Gains
TOKYO (NQN)--Tokyo stocks rose for the eighth straight trading day Monday, with the Nikkei Stock Average climbing 65.43 points, or 0.53%, to close at 12,349.05.
At one point during trade, the benchmark index hit 12,400, its highest point since Sept. 9, 2008. The index is on its longest winning streak since the one running from July 14-28, 2009.
The U.S. said Friday that employment in nonagricultural sectors expanded far more than expected in February, prompting the Dow Jones industrial average to hit a record high. The news also pushed the dollar up to the 96 yen level, prompting investors to buy Japanese exporters in particular and lifting the broader Tokyo market. Meanwhile, profit-taking on the upside limited Japanese stocks' upward momentum.
The trading value on the first section of the Tokyo Stock Exchange totaled about 2.84 trillion yen on a preliminary basis.