Monday, October 28, 2013
Nikkei Ends Day Up More Than 300 Points
TOKYO (NQN)--Tokyo stocks finished higher Monday, with the Nikkei Stock Average rising 307.85 points, or 2.2%, to end the session at 14,396.04.
Investor sentiment improved as the Dow Jones industrial average on Friday hit its highest level in about a month. The dollar's rise against the yen also fueled buying on the Tokyo market from the outset of trading.
In the afternoon, speculation that the People's Bank of China will supply funds to the money market caused the view that China's short-term interest rates will become stable. Due in part to the Nikkei average that fell about 400 points on Friday, investors increasingly bought back shares.
The trading value on the first section of the Tokyo Stock Exchange was 1.71 trillion yen on a preliminary basis.