Tokyo, Oct. 20 (Jiji Press)–Japanese stocks rebounded sharply Monday morning, with the benchmark Nikkei 225 average surging more than 1,300 points to hit a new record intraday high. At 10:45 a.m., the Nikkei stood at 48,939.83, up 1,357.68 points, or 2.85 pct, from Friday’s closing. Buying took the upper hand from the outset of Monday’s trading, after concerns in the U.S. market over U.S.-China trade friction receded following U.S. President Donald Trump’s remark that the 100 pct additional tariffs on China that he announced earlier are not sustainable. Buying momentum increased also because Japan’s ruling Liberal Democratic Party and opposition Nippon Ishin no Kai (Japan Innovation Party) are expected to agree Monday afternoon to form a coalition government. “Few investors want to sell stocks,” an official at a major securities firm said. END [Copyright The Jiji Press, Ltd.]
Nikkei Surges Over 1,300 Points in Morning
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