Home > News Updates > Financial News > Securities
Nikkei Ends at Highest Level Since 1992 Amid Higher Oil Prices-Nov 7
 

Tokyo shares closed higher Tuesday with the Nikkei index ending at its highest level since 1992 amid rising oil prices.

The 225-issue Nikkei Stock Average ended up 389.25 points, or 1.73 percent, from Monday at 22,937.60, its highest close since Jan. 9, 1992.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 20.63 points, or 1.15 percent, higher at 1,813.29.

Tokyo shares opened almost flat Tuesday as the yen's rise discouraged export-linked shares while higher oil prices boosted energy-linked issues.

After that shares widened gains and Nikkei reached 22,775.68, the highest intraday level since Jan. 10, 1992.

Local brokers said positive sentiment was underpinned by some record-high U.S. stock indexes overnight as well as expectations for strong domestic earnings following release of financial reports by some major firms.

Gainers were led by mining, marine transportation as well as oil and coal product issues.

Energy-related stocks showed a particularly strong growing momentum as the U.S. crude oil prices soared amid an anti-corruption campaign in Saudi Arabia which saw a number of princes and government officials arrested.

Market speculations rose on whether the campaign would impact the country's oil supply as Saudi Arabia is one of the world's largest oil exporters.

Rising issues outpaced falling ones at the close by 1,315 to 619, on the First Section, with 99 ending the day unchanged, and on the main section 1,896.65 million shares changed hands, down from Monday's 1,938.16 million shares.

The day's turnover was around 3,512.6 billion yen (30.82 billion U.S. dollars).

 


(www.chinaview.cn 2017-11-08)
Close