China’s expected stimulus measures boost Tokyo marketMarch 5th, 2009 - 2:32 pm ICT by IANS
Tokyo, March 5 (DPA) The Japanese market extended gains Thursday as optimism spread that China’s economic stimulus measures may help the world economy to recover.
After the National People’s Congress, the nominal parliament of the ruling Communist Party of China, opened Thursday in Beijing, the benchmark Nikkei 225 Stock Average jumped 142.53 points, or 1.95 percent, to close at 7,433.49.
The broader Topix index of all first section issues was also up 9.51 points, or 1.3 percent, to 741.55.
The nine-day congress was expected to implement a 4-trillion-yuan ($586 billion) economic stimulus package.
On currency markets at midday (0300 GMT), the dollar traded at 99.21-26 yen, up from Wednesday’s 5 p.m. quote of 98.82-84 yen.
The euro traded at $1.2593-98, up from late Wednesday’s quote of $1.2509-12, and at 124.95-125.00 yen, up from 123.63-67 yen.
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