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Asian markets close on a high in reaction to US financial turmoil

Latest update : 2008-09-22

In reaction to the last week's multi-billion dollar rescue plan by the Bush administration, Japanese share price rose 1,42 percent in trade at the end of the morning session, after more than a 2 percent rise at opening.

Japanese shares closed up 1.42 percent Monday, down from early highs as markets digested a US plan to mop up Wall Street's billions of dollars of bad debt, dealers said.

   

Asia's largest bourse was cautious ahead of a national holiday in Japan Tuesday and uncertainty over the 700-billion-dollar rescue plan to buy the toxic mortgage-related assets of US financial institutions, dealers said.

   

The Tokyo Stock Exchange's benchmark Nikkei-225 index closed up 169.73 points to 12,090.59. The broader Topix index of all first-section shares rose 19.57 points or 1.70 percent to 1,168.69.
 

Date created : 2008-09-22

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