Nikkei Closes with Record Point Gain after Historic Loss

Tokyo, 6 Aug (ONA) --- The Nikkei stock index today closed with its largest single-day point gain in history, soaring over 3,200 points as shares drew widespread buying after the previous day's record plunge.

Japan's News Agency (Kyodo) said that the 225-issue Nikkei Stock Average ended up 3,217.04 points, or 10.23 percent, from Monday at 34,675.46, exceeding the previous day-on-day point gain record of 2,676.55 registered on 2 October 1990. The broader Topix index finished 207.06 points, or 9.30 percent, higher at 2,434.21.

The sharp rebound, also helped by a weaker yen, came after global stock markets plunged yesterday (Monday) as US recession fears grew due to a recent batch of disappointing economic data, prompting investors to seek safe-haven bonds.

--- Ends/Khalid