Stocks surge on overnight rally in US market

Business Materials 17 April 2008 07:54 (UTC +04:00)

( dpa ) - Tokyo stocks gained more than 2 per cent Thursday after an overnight surge on Wall Street.

The Nikkei 225 Stock Average surged 306.1 points, or 2.33 per cent, to 13,452.23, helped by the US market's surge after JP Morgan and Chase reported a better-than-expected quarterly earnings report.

The broader Topix index of all first-section issues was up 27.97 points, or 2.2 per cent, at 1,299.85.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 101.80-85 yen, up from Wednesday's 5 pm quote of 101.50-52 yen.

The euro was quoted at 1.5942-47 dollars, up from Wednesday's 5 pm quote of 1.5842-44 dollars, and at 162.31-36 yen, up from 160.80-84 yen.