Nikkei Rockets Past 60,000 as Bargain Hunters Pounce
(MENAFN) Tokyo equities staged a forceful rebound Tuesday, with the benchmark Nikkei index spiking more than 3 percent at its peak and closing above the 60,000 threshold, as investors snapped up shares following last week’s steep sell-off and cheaper crude oil bolstered market confidence.
The 225-issue Nikkei Stock Average finished 1,684.08 points, or 2.87 percent, higher than Monday’s close at 60,459.58.
The wider Topix index also posted solid gains, ending 75.55 points, or 1.98 percent, higher at 3,893.71.
Analysts said a drop in crude oil futures, combined with overnight advances on Wall Street, helped the Nikkei win back the psychologically important 60,000 level. They added that buying momentum from the prior session carried through into Tuesday.
The 225-issue Nikkei Stock Average finished 1,684.08 points, or 2.87 percent, higher than Monday’s close at 60,459.58.
The wider Topix index also posted solid gains, ending 75.55 points, or 1.98 percent, higher at 3,893.71.
Analysts said a drop in crude oil futures, combined with overnight advances on Wall Street, helped the Nikkei win back the psychologically important 60,000 level. They added that buying momentum from the prior session carried through into Tuesday.
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