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Article: NIKKEI RECOVERS TO 16,000 LEVEL ON LACK OF SELLING PRESSURE.
- Article from:
- AsiaPulse News
- Article date:
- December 27, 2005
CopyrightCOPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Dec 27 Asia Pulse - The Nikkei Stock Average rallied Monday to its highest level in five years and two months, buoyed by an absence of selling pressure and ongoing hopes for an economic recovery.
The Nikkei Stock Average finished up 166.30 points, or 1.04 per cent from Thursday to 16,107.67, the highest level since Oct. 4, 2000. Tokyo markets were closed for a national holiday Friday.
The key stock index has risen about 40 per cent since the beginning of the year and is about 49 per cent above its year-to-date low of 10,825 set in mid-May. Since topping 13,000 points in September, the Nikkei's rise has picked up at a rapid clip.
"Foreign ...