Tokyo stocks gain despite economy slump

December 9th, 2008 - 10:37 am ICT by IANS  

Tokyo, Dec 9 (DPA) Japanese stocks rose Tuesday despite a revised government estimate outlining an annualised third-quarter gross domestic product decline of 1.8 percent.Driven up by gains on Wall Street and a rally in commodities the benchmark Nikkei 225 Stock Average was up 40.38 points, or 0.48 percent, to 8,369.43 by mid-trading.

The broader Topix index of all first-section issues rose 5.8 points, or 0.71 percent to 817.88.

On currency markets at 9 a.m., the dollar was quoted at 93.00-03 yen, compared to Monday’s 5 p.m. quote of 93.01-03 yen.

The euro was quoted at $1.2910-15, up from $1.2872-73, and at 120.05-10 yen, up from 119.72-76 yen the previous day.

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