Wednesday, October 16, 2013
Nikkei Ends Up For 6th Day On Hopes For U.S. Fiscal Solution
TOKYO (NQN)--Tokyo stocks finished slightly higher Wednesday, with the Nikkei Stock Average rising 25.60 points, or 0.2%, to end the session at 14,467.14.
This was the first time in about seven months the benchmark index has had a six-day winning streak. The market was supported by hopes the U.S. Congress will soon break the fiscal logjam it is in, raising the debt ceiling and ending the government's partial shutdown.
The Nikkei Stock Average was top heavy, however, because of a lack of new buying incentives, and because investors moved to lock in gains. The range between the session's high and low was 76.06 points, its smallest since May 1.
Many investors took a wait-and-see approach as Typhoon Wipha approached the Kanto region surrounding Tokyo, which brought some transport to a halt. These factors put a damper on trading.
Trading value on the first section of the Tokyo Stock Exchange totaled 1.38 trillion yen on a preliminary basis, its lowest since Aug. 26.