Nikkei rises to 8,000 after Wall Street’s rally

October 29th, 2008 - 10:20 am ICT by IANS  

Tokyo, Oct 29 (DPA) Tokyo stocks opened sharply higher Wednesday on the back of Wall Street’s overnight rally and the US dollar’s advance against the yen, sending the benchmark Nikkei 225 Stock Average above the 8,000 mark.The Nikkei index surged 487.42 points, or 6.4 percent, to 8,109.34.

The broader Topix index of all first-section issues was up 41.36 points, or 5.28 percent, at 825.39.

On currency markets at 9 a.m., the dollar was quoted at 98.20-25 yen, up from Tuesday’s 5 p.m. quote of 94.54-56 yen.

The euro was quoted at $1.2805-10, up from Tuesday’s 5 p.m. quote of $1.2476-78, and at 125.78-83 yen, up from 117.95-99 yen.

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