Tokyo stocks back at pre-crisis levels

Editorial Team
Editorial Team
Tokyo stocks back at pre-crisis levels

Tokyo stocks closed 2.64 percent higher Friday, recovering to levels seen not since before the 2008 collapse of Lehman Brothers that heralded the beginning of the global financial crisis.

The benchmark Nikkei 225 index ended up 315.54 points to 12,283.62, while the Topix index of all first-section shares added 1.61 percent, or 16.15 points, to 1,020.50.

Shares in Tokyo closed higher for the seventh straight day.

GS Yuasa, supplier of lithium-ion batteries to Boeing’s troubled 787 Dreamliner, surged 6.40 percent to 465 yen, as US regulators said they are still looking for what exactly caused a battery fire on a Japan Airlines 787.

Meanwhile, Japan’s economy stopped contracting in the final quarter of 2012, figures have shown.

GDP grew at an annual pace of 0.2 percent in the quarter, the government said, up from its previous estimate of a 0.4 percent contraction.

Higher than expected corporate spending and household consumption are thought to have contributed to growth.

Image: © Getty

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.