Tokyo's benchmark Nikkei stock index posted a record one-day point gain on Tuesday, rebounding from its worst-ever single-day decline.
The Nikkei 225 jumped by 3,217 points, beating the previous record of 2,676 set in October 1990. The index ended the day at 34,675, up 10.2 percent.
Investors bought back shares after the index plummeted by 4,451 points on Monday, an even bigger fall than the infamous Black Monday crash of 1987.
The rebound was led by export-related shares on a weaker yen. The Japanese currency on Tuesday briefly fell to the 146-level against the dollar in Tokyo.
On Monday, the yen appreciated to the 141-level for the first time in about seven months. Investors sold the Japanese currency and bought the greenback for profit-taking.
Market sources say the yen weakened as concerns about the outlook of the US economy eased.
On July 11, the Nikkei 225 hit its all-time closing high above 42,000. That was followed by a continuous pullback. Over the three trading days until Monday, the benchmark index fell almost 20 percent.
The Nikkei 225 jumped by 3,217 points, beating the previous record of 2,676 set in October 1990. The index ended the day at 34,675, up 10.2 percent.
Investors bought back shares after the index plummeted by 4,451 points on Monday, an even bigger fall than the infamous Black Monday crash of 1987.
The rebound was led by export-related shares on a weaker yen. The Japanese currency on Tuesday briefly fell to the 146-level against the dollar in Tokyo.
On Monday, the yen appreciated to the 141-level for the first time in about seven months. Investors sold the Japanese currency and bought the greenback for profit-taking.
Market sources say the yen weakened as concerns about the outlook of the US economy eased.
On July 11, the Nikkei 225 hit its all-time closing high above 42,000. That was followed by a continuous pullback. Over the three trading days until Monday, the benchmark index fell almost 20 percent.
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Summary
Tokyo's Nikkei stock index posted a record one-day point gain on Tuesday, rebounding from its worst-ever single-day decline. The Nikkei 225 jumped by 3,217 points, surpassing the previous record set in October 1990. This recovery was led by export-related shares as the Japanese yen weakened
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ID: 46032e48-51c4-4449-bf47-bed7dcf1606f
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240806_25/
Date: Aug. 6, 2024
Created: 2024/08/06 19:00
Updated: 2025/12/08 11:39
Last Read: 2024/08/07 18:08