Nikkei Average Briefly Rallies over 1,000 Points in Morning

Tokyo, Jan. 22 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average climbed over 1,000 points at one point in Thursday morning, reflecting eased concerns about tensions between the United States and Europe regarding Greenland. The index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section ended the morning session up 986.21 points, or 1.86 pct, from Wednesday’s close to 53,760.85. The broader TOPIX index gained 31.56 points, or 0.88 pct, to 3,621.26. Investor sentiment brightened after U.S. President Donald Trump retracted his plan to impose additional tariffs on eight European nations opposing his desire to take over the Danish territory of Greenland. Market players were also “reassured as the domestic bond market calmed down for now,” an official of a major brokerage firm said. In Tokyo currency trading, the dollar stood at 158.46-47 yen at noon, up from 157.90-91 yen at 5 p.m. Wednesday. The euro was at 1.1685-1685 dollars, down from 1.1716-1717 dollars, and at 185.17-18 yen, up from 185.02-04 yen. END [Copyright The Jiji Press, Ltd.]