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Tokyo stocks bounce back on bargain-hunting

Posted : Tue, 27 May 2008 02:49:02 GMT
Author : DPA
Category : Business
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Tokyo - Tokyo stocks bounced back Tuesday as investors scooped up battered shares from the previous day's losses. The Nikkei 225 Stock Average rose 112.43 points, or 0.82 per cent, to 13,802.62.

The broader Topix index of all first-section issues was also up 13.22 points, or 0.98 per cent, to 1,357.4.

Stocks fell more than 2 per cent in Tokyo Monday due to surging oil prices and the US market's fall before the weekend.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 103.37-42 yen, up from Monday's 5 pm quote of 103.34-37 yen.

The euro was quoted at 1.5775-80 dollars, up from Monday's 5 pm quote of 1.5766-69 dollars, and at 163.11-16 yen, up from 162.96-163.00 yen.

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