Business News

Tokyo stocks up on Wall Street jump, rising current-account surplus

Nov 10, 2009, 2:22 GMT

Tokyo - Stocks surged Tuesday in Tokyo after strong overnight gains on Wall Street and Japan's current-account surplus unexpectedly expanded. Financial and resource-related shares were among the biggest winners as commodity prices rose and large gains of financial issues in New York, where the three major indices climbed roughly 2 per cent Monday after the world's 20 leading economies promised at the weekend to keep up public spending until a broader global economic recovery takes hold. That stimulus spending has helped increase sales of Japanese exports, widening Japan's current-account surplus in September by 0.2 per cent from the same month of 2008 to 1.57 trillion yen (17.5 billion dollars), the Finance Ministry reported. The benchmark Nikkei 225 Stock Average gained 161.11 points in morning trading, or 1.64 per cent, to 9,970.1. The broader-based Topix index of all first-section issues was also up 11.07 points, or 1.27 per cent, at 881.74. On currency markets at 9 am (0000 GMT), the dollar traded at 89.86-87 yen, down from Monday's 5 pm quote of 90.11-12 yen. The euro traded at 1.5003-05 dollars, up from 1.4975-77 dollars late Monday, and at 134.83-85 yen, down from 134.94-98 yen.

Business News

Tokyo stocks up on Wall Street jump, rising current-account surplus

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