Wednesday, September 4, 2013
Nikkei Ends Above 14,000 For 1st Time In 3 Weeks
TOKYO (NQN)--Tokyo stocks closed higher Wednesday for the third straight trading day, with the Nikkei Stock Average rising 75.43 points, or 0.54%, to end the day at 14,053.87.
It is the first time in about three weeks that the benchmark index has ended above 14,000.
In reaction to Tuesday's surge, Tokyo stocks came under selling pressure as investors locked in gains in the early hours of trading. In the afternoon, however, the forex market's resiliency prompted short sellers to cover their positions in Nikkei Stock Average futures, pushing cash stocks higher. The dollar's rise to the upper-99 yen range also fueled buying of Toyota Motor Corp. (7203), Honda Motor Co. (7267) and some other exporters.