Thursday, October 17, 2013
Nikkei Ends Higher For 7th Day As U.S. Averts Default
TOKYO (NQN)--Tokyo stocks continued higher into the seventh straight trading day Thursday, with the Nikkei Stock Average climbing 119.37 points, or 0.83%, to end the day at 14,586.51.
The benchmark index closed above 14,500 for the first time since Sept. 27. It is the first time the index has had seven positive trading days in a row since Feb. 28-March 11, when it had eight straight days of gains.
Congressional Democrats and Republicans agreed on an interim proposal to raise the U.S. debt ceiling until February, averting a default. This supported market sentiment. However, upward momentum appeared limited because investors were selling blue chips to lock in recent gains after buying ran its course.