15 October 2002, 09:17  Tokyo stocks rise, dollar stronger against yen

/www.fxserver.com/ TOKYO (AP) -- Tokyo stocks surged Tuesday morning as investors welcomed Wall Street's strength. The dollar was higher against the Japanese yen.
The benchmark 225-issue Nikkei Stock Average rose 238.58 points, or 2.8 percent, to 8,768.11 at the end of morning trading. On Friday, the Nikkei closed up 89.99 points, or 1.07 percent.
The dollar was trading at 124.44 yen at 11 a.m. Tuesday, up 0.40 yen from late Friday in Tokyo and also above its late New York level at 124.29 yen.
Japanese financial markets were closed Monday for a national holiday.
Investors in Tokyo, cheered by the third straight session of gains in New York stocks Monday, bought blue chip issues, traders said.
The Nikkei's uptick comes only two sessions after the index turned in its lowest finish in 19? years on Thursday when it closed down 99.72 points, or 1.17 percent, at 8,439.62 points.
In New York, the Dow Jones industrial average gained 27.11 points to close at 7,877.40, and the tech-heavy Nasdaq composite index rose 10.06 to 1,220.53.
The Tokyo Stock Price Index of all issues on the first section was up 20.00 points, or 2.0 percent, ending the morning session at 868.43. The TOPIX gained 12.82 points, or 1.53 percent, Friday.
The euro traded at 123.02 yen, up from 122.46 yen late Friday in Tokyo. Against the dollar, the euro was quoted at 98.84 cents, up slightly from 98.72 cents.
The yield on the benchmark 10-year government bond was at 1.0650 percent early Tuesday, down from 1.0950 late Friday. Its price rose 0.28 to 101.21.

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