Tokyo stocks end higher on Obama’s victory

November 5th, 2008 - 3:06 pm ICT by IANS  

Barack ObamaTokyo, Nov 5 (DPA) The Tokyo market ended Wednesday’s trading higher as the news of Barack Obama’s victory in the US presidential election boosted investor sentiment.The Nikkei 225 Stock Average soared 406.64 points, or 4.46 percent, to close at 9,521.24.

The broader Topix index of all first-section issues also rose 56.21 points, or 6.17 percent, to 966.91.

In morning trading, Japanese stocks rose on Wall Street’s overnight rises and the US dollar’s advance against the yen. A stronger dollar helps increase Japanese exporters’ earnings.

On currency markets at midday (0300 GMT), the dollar was quoted at 99.69-74 yen, up from Tuesday’s 5 p.m. quote of 99.10-12 yen.

The euro was quoted at 1.2933-38 dollars, up from Tuesday’s 5 p.m. quote of 1.2641-43 dollars, and at 128.95-129.00 yen, up from 125.27-31 yen.

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