Thursday, March 14, 2013
Nikkei Hits '12-'13 High On Hopes For U.S. Recovery, BOJ Easing
TOKYO (NQN)--Tokyo stocks rebounded Thursday, with the Nikkei Stock Average climbing 141.53 points, or 1.16%, to end the day at 12,381.19.
The benchmark index rose to its highest level since Sept. 9, 2008, when the index hit 12,400.65.
The U.S. government said overnight that the country's retail sales in February expanded by a larger than expected margin on the month, raising expectations that the economy is recovering more rapidly.
In the afternoon, the lower house approved the nominees for the Bank of Japan governor and deputy governors. As a result, investors began buying stock index futures and property developers' stocks, pleased that the central bank will be ready to implement monetary easing steps.