P. M. BRIEFING : Nikkei Index Soars 1,029 Points
Stock prices on the Tokyo Stock Exchange closed broadly higher today as the key Nikkei Average shot up more than 1,000 points on bargain hunting, a stronger yen and news of an agreement in U.S.-Japanese trade talks.
The blue-chip Nikkei average of 225 selected shares, which lost 193.88 points Thursday and has dropped more than 25% since Jan. 1, catapulted 1,029.72 points, or 3.6%, to end the week at 29,278.78.
The broader-based Tokyo Stock Exchange Price Index surged 90.44 points to 2,149.26.
Analysts said bargain hunters took advantage of low prices and there was a renewed sense of confidence in the Japanese yen as a result of the agreement between Japanese and U.S. negotiators in Washington on steps to reduce the U.S. trade deficit with Japan.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
