Nikkei snaps four-day losing streak

Nikkei snaps four-day losing streak
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First Published: Mon, Aug 25 2008. 11 31 AM IST
Updated: Mon, Aug 25 2008. 11 31 AM IST
Reuters
Tokyo: Japan’s Nikkei stock average rose 1.7% on Monday, its biggest one-day percentage gain in two weeks, with Honda Motor Co leading the market up after a sharp fall in oil prices temporarily soothed economic fears.
Banks also forged higher, with Mitsubishi UFJ Financial Group and other megabanks all gaining more than 4 percent, after US financial stocks rose on hopes that Lehman Brothers may attract a major investor.
The benchmark Nikkei gained 212.62 points, rising to 12,878.66 to snap a four-day losing streak. The broader Topix rose 1.9% to 1,239.25. Both had earlier risen over 2%.
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First Published: Mon, Aug 25 2008. 11 31 AM IST
More Topics: Markets | Japan | Stocks | Nikkri | Topix |