Tuesday, September 10, 2013
Nikkei Ends At 1-Month High On Olympics, China Recovery
TOKYO (NQN)--Tokyo stocks rose sharply Tuesday, with the Nikkei Stock Average surging 218.13 points, or 1.54%, to end the day at 14,423.36, its highest level since Aug. 2.
Investors were buying stocks linked to domestic demand in line with a recovery in the Japanese economy and enthusiasm about Tokyo's successful bid to host the 2020 Summer Olympics. Short-term retail investors were aggressively buying attractively priced stocks of construction firms. Expectations of a Chinese economic recovery also prompted buying of construction machinery makers and marine shippers.
The trading value on the first section of the Tokyo Stock Exchange totaled about 2.44 trillion yen on a preliminary basis, surpassing 2 trillion yen for the second straight day and the largest amount since July 19, when it reached 3.1 trillion yen. A total of 4.23 billion shares changed hands, the most since June 7, when the volume reached 4.39 billion shares.