Thursday, September 26, 2013
Nikkei Ends At 2-Month High On Stimulus Hopes
TOKYO (NQN)--Tokyo stocks finished higher for the first time in four trading days Thursday, with the Nikkei Stock Average rising 178.59 points, or 1.22%, to end the session at 14,799.12, its highest since July 18.
Buying gradually increased, supported by expectations that the government's economic measures will underpin the stock market. Investors bought shares in maritime shippers, insurance companies and construction firms after reassessing them.
Stocks, with the ex-dividend amount for the year ending September factored in, opened slightly lower on concerns over U.S. fiscal issues and share sales to procure cash. But after 11 a.m., media reports about government measures to prop up the economy, including possible imminent cuts in corporate tax, fueled buying of futures, pushing cash stocks higher through arbitrage trading.
The trading value on the first section of the Tokyo Stock Exchange totaled 2.15 trillion yen on a preliminary basis.