Society | Nov 17

Nikkei closes above 26,000 for 1st time since 1991

Nov 17 (NHK) - Tokyo's benchmark stock index closed above the 26-thousand mark on Tuesday for the first time in more than 29 years.

Buy orders prevailed in the Tokyo Stock Exchange in the morning session amid increasing expectations for a coronavirus vaccine. The rally followed record closing highs in New York.

The Nikkei Average ended at 26,014 on Tuesday, up 107 points from Monday's close. It was the first time for the index to close above 26,000 points since May 1991.

The broader-based TOPIX index was up 2.85 points, at 1,734.

Market sources say expectations for an economic recovery after the development of a coronavirus vaccine were behind the continued surge in buy orders.

But they say it is unclear if stock prices would continue to increase as some investors are cautious about a recurrence of coronavirus outbreaks affecting the economic activities.

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