Tokyo Stock Average Increases 2.4%
Stock prices on the Tokyo Stock Exchange surged today as momentum from last week’s rally boosted the market 2.4%.
The key Nikkei Average of 225 selective issues, which surged 2,091.33 points last week including 114.41 points Friday, climbed 589.35 points, or 2.4%, to 25,070.86.
Volume continued to be stronger than the average of the past several months. An estimated 600 million shares changed hands, compared to 1.08 billion shares Friday.
Advances topped declines 886 to 133, while 96 issues remained unchanged.
Analysts said lower oil prices and talk of an Iraqi withdrawal from Kuwait drew in large financial institutions, which had trailed behind the rally last week.
Meanwhile, foreign investors continued to pump funds into the market, they said.
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