Stocks surged on the Tokyo Stock Exchange Friday, jumping to their highest level in about 26 years and 10 months, at one point in the day reaching a level not seen since Nov. 15, 1991.
The 225-issue Nikkei average rose 323.30 points to close at 24,120.04. The TOPIX index of all first-section issues finished up 17.14 points at 1,817.25.
The dollar surged to stand at the mid-113 level, the highest in about nine months in Tokyo trading. The dollar's surge against the yen resulted in boosting the stock price of mainly export related companies because they are expected to improve their profits. In addition, figures on Japan's industrial output and unemployment announced on Friday were solid, a factor that also became a tailwind for the stock market.
The stock high in the United States on Thursday affected the market positively. The Dow Jones Industrial Average jumped for the first time in four business days, rising 54.65 points to 26,439.93. The results were thought to be affected by steady orders for durable products that U.S. companies received in August, giving investors the view that the U.S. economy is growing steadily.
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