Tokyo up
NZPA Tokyo Share prices closed higher in moderate trading yesterday as talk that the Ministry of Finance was reconsidering the method by which the third tranche of Nippon Telegraph and Telephone shares would be handled boosted sentiment.
The Nikkei average rose 251.34 points, or 1.07 per cent, to 23,587.25. The index sank 162.85 points on Wednesday. In New York stock prices were mixed, pushed and pulled by a bond market rally and some selling linked to computerised program trading. The Dow Jones industrial average lost 9.45 points to 1911.14.
Analysts said the ease with which the market changed paths reflected its underlying lack of direction and continuing volatilty.
In London news that United States fourth-quarter gross national product rose 4.2% compared with a 4.3% rise in the third quarter brought United Kingdom shares well above their lows by late afternoon, dealers said. The FTSE 100 share index was 2.1 points lower at 1765.2.
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Press, 29 January 1988, Page 20
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155Tokyo up Press, 29 January 1988, Page 20
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