Tokyo stocks record climbs

Press, 3 February 1987, Page 19

Tokyo stocks record climbs

NZPA-Reuter Tokyo Tokyo share prices climbed into record territory as expectations of next week’s listing of shares of Nippon Telegraph and Telephone buoyed confidence and primed investment in a variety of sectors. The market average ended up 48.54 at a re-

cord closing high of 20,072.09, surpassing the previous record close of 20,048.35 set on Friday. The index surged to a record 20,156.10 in early trade, but drifted lower for most of the session on concern over the pace of recent gains. Losses led gains five to four on turnover of 1

billion shares against 550 million during Saturday’s half-day session. Anticipation of next Monday’s NTT listing boosted utility and transport shares, with electrical and other exporters firming on the stability against the dollar. Securities company, communications, real estate, insurance, ware-

house and pharmaceutical shares also rose, brokers said.

The broad-based first section index rose 6.53 to 1764.87, extending Saturday’s 7.69 advance.

The second section index rose 2.93 to 2073.47, after gaining 5.29 in turnover of 5.5 million shares against 7.5 million.