Tokyo stocks end higher on US's bailout plan

Business Materials 22 September 2008 11:34 (UTC +04:00)

Stocks ended higher Monday in Tokyo as the market sentiment was cheered by the US government's 700-billion-dollar bailout plan to clean up bad assets, dpa reported.

The benchmark Nikkei 225 Stock Average gained 169.73 points, or 1.42 per cent, to close at 12,090.59.

The broader Topix index of all first-section issues was also up 19.57 points, or 1.7 per cent, to 1,168.69.

The Bank of Japan pumped 1.5 trillion yen (13.97 billion dollars) into the Tokyo money market Monday.

Japan's central bank conducted an emergency operation to inject total of 12.5 trillion yen into the markets since the US investment bank Lehman Brothers Holdings Inc filed for bankruptcy last week.

On currency markets at midday (0300 GMT), the dollar was quoted at 106.64-69 yen, down from Friday's 5 pm quote of 107.22-25 yen.

The euro was quoted at 1.4515-20 dollars, up from Friday's 5 pm quote of 1.4210-11 dollars, and at 154.80-85 yen, up from 152.38-42 yen.