Wednesday, September 18, 2013
Nikkei Climbs Further On Large-Lot Futures Buying
TOKYO (NQN)--Tokyo stocks extended their gains at the start of Wednesday's afternoon session, with the Nikkei Stock Average briefly rising more than 310 points to 14,625, the highest level during trading hours since July 25.
Large-lot buying of Nikkei futures has continued since the morning session as part of arbitrage trading between cash stocks and futures, fueling buying of high-priced stocks.
A spokesman at an online securities company said market players are increasingly confident that the upcoming release of the U.S. Federal Open Market Committee meeting results will eliminate negative factors.