(Update 2) Nikkei Average Briefly Gains More Than 1,000 Points
Tokyo, Sept. 19 (Jiji Press)--Japan's key Nikkei 225 stock average climbed over 1,000 points briefly Thursday as investor sentiment improved following a weaker yen.
The index finished at 37,155.33, up 775.16 points, or 2.13 pct, from Wednesday. The broader TOPIX index was up 51.50 points, or 2.01 pct, at 2,616.87.
The yen weakened against the dollar on receding speculation about a large additional interest rate cut by the U.S. Federal Reserve later this year.
The Fed on Wednesday decided to lower its policy rate by 0.5 percentage point. But Fed Chair Jerome Powell later warned against assuming that the U.S. central bank will keep cutting interest rates at such a fast pace.
In the Tokyo stock market Thursday, automakers and other export-oriented issues attracted buybacks thanks to the yen's drop. Banks and other financial stocks were also buoyant on the back of higher interest rates in Japan and the United States.
(2024/09/19-15:43)
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NATION
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