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Tokyo stocks rebound on Wall Street's rise, weaker yen - Summary

Tokyo - Stocks bounced back Friday in Tokyo on the back of Wall Street's overnight rise and the yen weakening against the dollar. The Nikkei 225 Stock Average rose 223.75 points, or 2.72 per cent, to close at 8,462.39. ...
Posted : Fri, 14 Nov 2008 06:33:13 GMT
Author : DPA
Category : Australasia (World)
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Tokyo - Stocks bounced back Friday in Tokyo on the back of Wall Street's overnight rise and the yen weakening against the dollar. The Nikkei 225 Stock Average rose 223.75 points, or 2.72 per cent, to close at 8,462.39.

The broader Topix index of all first-section issues was also up 9.38 points, or 1.12 per cent, to 846.91.

Investors scooped up mainly export-oriented issues on a weaker yen as it helps boost earnings of Japanese firms.

For the week, Nikkei dropped 1.41 per cent, and Topix fell 3.65 per cent.

On currency markets at midday (0300 GMT), the dollar was quoted at 97.07-12 yen, up from Thursday's 5 pm quote 95.65-67 yen.

The euro was quoted at 1.2750-55 dollars, up from Thursday's 5 pm quote of 1.2407-08 dollars, and at 123.77-87 yen, up from 118.67-71 yen.

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