Tokyo stocks gain despite economy slump (Lead)December 9th, 2008 - 4:57 pm ICT by IANS
Tokyo, Dec 9 (DPA) Japanese stocks rose Tuesday despite a revised government estimate outlining an annualised third-quarter gross domestic product (GDP) decline of 1.8 percent.Driven up by gains on Wall Street and a rally in commodities, the benchmark Nikkei 225 Stock Average closed up 66.82 points, or 0.8 percent, to 8,395.87.
The broader Topix index of all first-section issues rose 5.86 points, or 0.72 percent to 817.94.
On currency markets at midday, the dollar was quoted at 92.75-80 yen, compared to Monday’s 5 p.m. quote of 93.01-03 yen.
The euro was quoted at $1.2870-75, compared with $1.2872-73, and at 119.39-44 yen, down from 119.72-76 yen the previous day.