Nikkei Tops 38,800 to Near All-Time High in Morning

Yomiuri Shimbun file photo
Tokyo Stock Exchange

Tokyo, Feb. 16 (Jiji Press)—Japan’s Nikkei 225 stock average climbed more than 700 points in morning trading on Friday, topping 38,800 to come close to its all-time high marked in 1989 during the height of Japan’s asset inflation-driven bubble economy.

At 9:09 a.m., the benchmark index stood up 701.63 points, or 1.84 pct, from Thursday at 38,859.57, nearing its record high of 38,915.87 scored on the final trading day of 1989.

A wide range of Tokyo stocks attracted buying on the back of overnight rises in U.S. stocks, which came in tandem with a fall in U.S. long-term interest rates, brokers said. Gainers included Nikkei heavyweights such as Tokyo Electron.