Tokyo stocks surge on Fed’s monetary easing policy
By DPA, IANSWednesday, November 3, 2010
TOKYO - Japanese shares soared more than 2 percent in Thursday morning trading, buoyed by the US Federal Reserve’s decision to further ease monetary policy.
The benchmark Nikkei 225 Stock Average gained 204.94 points, or 2.24 percent, to trade at 9,364.92 while the broader Topix index was up 15.03 points, or 1.87 percent, at 818.15.
Overnight, the US central bank said it would buy $600 billion in government debt over the next eight months in a bid to revive the stalled US economy.
The US stocks also got a boost as the pro-business Republicans had won control of the US House of Representatives in Tuesday’s midterm elections.
Japanese markets were closed Wednesday due to a national holiday.
On currency markets at 9 a.m. (0000 GMT), the dollar traded at 81.06-08 yen, up from Tuesday’s 5 p.m. quote of 80.60-61 yen.
The euro traded at $1.4124-4129, up from $1.3928-3929 Tuesday, and at 114.53-55 yen, up from 112.26-30 yen.
