Friday, October 11, 2013
Nikkei Ends Up For 4th Day; Hope For End To U.S. Fiscal Fight
TOKYO (NQN)--Tokyo stocks closed higher for a fourth straight trading day Friday, with the Nikkei Stock Average rising 210.03 points, or 1.48%, to end the session at 14,404.74.
This was the first time the benchmark index closed above the 14,400 line in eight trading days. Hopes the U.S. budget logjam may soon break fueled an overnight surge on the Dow Jones industrial average and pushed the dollar higher. That sparked stock-buying in the early going in Tokyo. The Nikkei average briefly rose more than 250 points after 12:30 p.m.
But the index hit resistance following the initial wave of buying, and investors sold shares on rebounds or to correct their positions.
Trading value on the first section of the Tokyo Stock Exchange totaled 2.27 trillion yen on a preliminary basis.