Wednesday, October 30, 2013
Nikkei Ends Higher After Dow Hits All-Time High
TOKYO (NQN)--Tokyo stocks rebounded Wednesday, with the Nikkei Stock Average jumping 176.37 points, or 1.23%, to end the day at 14,502.35.
The Dow Jones industrial average hit an all-time high overnight on speculation that the U.S. will continue its quantitative easing measures for the time being, prompting buying of blue chips from early in the morning.
Investors were aggressively buying stocks of companies that released strong earnings for the six months ended September, pushing up the Nikkei average by more than 200 points at one time.
After the afternoon session began, a pause in the yen's fall against the dollar prompted investors to sell exporters to lock in recent gains. However, the Nikkei average still managed to close above 14,500.