Nikkei Average Hits 33-Year High in Morning

Yomiuri Shimbun file photo
Tokyo Stock Exchange

Tokyo (Jiji Press)—Japan’s benchmark Nikkei stock average hit a 33-year intraday high early Monday morning.

At 9:25 a.m., the Nikkei average of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section was up 268.26 points, or 0.80 pct, from Friday at 33,853.46, a level unseen since March 1990, just after the country’s major stock bubble began to collapse.

Monday’s rise reflected buying backed by hopes for an inflation slowdown in the United States and an improvement in Japanese corporate earnings, according to market sources.