Thursday, September 19, 2013
Nikkei Ends Morning Up On Fed Decision, Stronger U.S., Asia Stocks
TOKYO (NQN)--Tokyo stocks continued higher Thursday morning, with the Nikkei Stock Average rising 191.81 points, or 1.32%, to close the early session at 14,697.17.
An overnight rise on Wall Street and Thursday's stronger Asian stocks fueled buying of a broad range of issues in Tokyo, including financial and real estate stocks. However, the dollar's fall prevented automakers and other exporters from rising further.
After the U.S. Federal Reserve Board decided not to taper its quantitative monetary easing, the Dow Jones industrial average hit an all-time high overnight. This trend carried over to the Tokyo market, sending the Nikkei average higher from the outset of trading.
Also supporting the market is a Nikkei report before the bell that said Prime Minister Shinzo Abe has called on government officials to include a two-stage lowering of cooperate taxes in the economic stimulus measures that would be implemented if the consumption tax is raised in April as planned.
(Nikkei Quick News, Sept. 19)