Business | Markets
Japan stocks surge in early trading
Japan's Nikkei stock average rose to more than 14 per cent on Tuesday and was set for the biggest one-day gain in its nearly 60-year history.
- Agencies
- Published: 09:42 October 14, 2008
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Tokyo: Japan's Nikkei stock average rose to more than 14 per cent on Tuesday and was set for the biggest one-day gain in its nearly 60-year history.
The benchmark Nikkei was up 14.0 per cent or 1,158.98 points to 9,435.41, a climb that would put it ahead of a record 13.24 percent jump logged on October 2, 1990.
The broader Topix gained 13.6 per cent to 954.78.
The surge in the Nikkei reflected growing confidence that international government measures to curb the global credit crisis.
"Since the opening, buying is spreading across the board. It was due to rallies in the US, European and Asian markets yesterday," said Kazuhiro Takahashi, general manager at Daiwa Securities.
As the market rebound gathered pace, Mitsubishi Motors Corp experienced its highest jump in 20 years, rising 32 per cent to 146 yen, trading at 140 yen, following a drop of 29 per cent last week.
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