Tokyo stocks gain on hopes for US rebound

December 8th, 2008 - 12:28 pm ICT by IANS  

Barack ObamaTokyo, Dec 8 (DPA) Japan markets opened stronger Monday, with stocks driven up by hope for the US economy to recover as president-elect Barack Obama Saturday pledged a large-scale spending plan.The benchmark Nikkei 225 Stock Average was up 203.2 points, or 2.57 percent, to 8,120.71 by mid-trading, carrying over Friday’s positive sentiment at Wall Street.

The broader Topix index of all first-section issues rose 11.34 points, or 1.44 percent to 797.36.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 92.75-80 yen, up from Friday’s 5 p.m. quote of 92.23-25 yen.

The euro was quoted at 1.2728-33 dollars, down from 1.2665-67 dollars before the weekend, and at 118.09-14 yen, up from 117.73-77 yen.

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