Thursday, September 26, 2013
Nikkei Ends Morning Higher On Yen's Fall After Opening Lower
TOKYO (NQN)--Tokyo stocks turned upward Thursday morning after opening lower, with the Nikkei Stock Average climbing 49.98 points, or 0.34%, to end the first session at 14,670.51.
The benchmark index briefly plunged more than 200 points in response to debate between the U.S. Senate and House of Representatives over raising the upper limit of Treasury issuances. Investors were also staying on the sidelines as they awaited further developments in Japan's planned consumption tax hike. However, bargain hunting began to take place after selling ran its course.
With a fall in the low-risk yen, investors moved to buy back stocks they sold earlier in the day.