Tuesday, December 30, 2008

Tokyo stocks close higher in final trading session

TOKYO, Dec. 30 (Chinese media) -- Tokyo stocks closed higher Tuesday in the year's final half-day trading session, ending a hardest-hit year in history.

The 225-issue Nikkei Stock Average advanced 112.39 points, or 1.28 percent, from Monday to 8,859.56.

The broader Topix index of

Gainers were led by mining, rubber product and precision machinery issues. Major decliners included insurance, forestry and fishery, and real estate issues.

However, Tokyo stocks plunged more than 40 percent in a year marked by financial turmoil and economic recession.

Compared with the closing levels of last year, the Nikkei shed 42.1 percent from 15,307.78. The broader Topix index of all first-section shares ended the year down 41.77 percent. Both falls are steepest in history.

The Nikkei hit its highest closing level of 2008 -- 14,691.41 --on Jan. 4, the first trading day of the year. However, on the veryday Nikkei lost more than 600 points, or 4 percent, marking the first plunge on the first trading day in seven years.

Japanese stocks accelerated downward trend after the downfall of investment bank Lehman Brothers and the financial crisis spread outside the United States.

On Oct. 27, the Nikkei hit 7,162.90 -- its lowest closing level in 26 years.

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