P.M. BRIEFING : Index Buyers Boost Tokyo Mart

Share prices in Tokyo sailed ahead today, propelled by index-linked buying and scattered buying by investment trust funds, arbitragers and individual investors.

The 225-share Nikkei rose 120.32 points or 0.31% to a record 38,801.63 after soaring 257.69 points Tuesday. Turnover today was about 900 million shares, up from 600 million Tuesday.

Both high-priced and bargain stocks were magnets in brisk trade.

Traders attributed the two-day market revival to widespread relief over the discount rate rise on Monday, year-end binges and bulging pocket books of Japanese corporations and institutions.