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Japan stocks sharply higher in early Tokyo trade following Wall Street rebound

Japan stocks sharply higher in early Tokyo trade following Wall Street rebound

Japanese stocks shot up more than 3 percent in early trading Monday following Wall Street's rebound after the U.S. Federal Reserve cut a key interest rate.
The Nikkei 225 was up 509.63 points, or 3.34 percent, to 15,783.31 points at midmorning on the Tokyo Stock Exchange. On Friday, the index lost 874.81 points, or 5.42 percent _ its largest one-day loss since it gave up 1,426.04 points April 17, 2000.
The Nikkei had fallen steadily in recent weeks as a housing loan crisis in the United States has pounded the global economy.
But the Dow Jones industrial average surged by 233.30, or 1.82 percent, to close at 13,079.08 on Friday after the Fed cut a key discount rate by half a percentage point to 5.75 percent.
Prices in Tokyo rose broadly Monday as players reacted to Friday's gains on Wall Street.
Japan's central bank meanwhile injected 1 trillion yen (US$8.8 billion;


Updated : 2021-10-23 20:26 GMT+08:00