maine--------- not quite,,
TOKYO, Nov 28, 2002 (Kyodo via COMTEX) -- Tokyo stocks ended higher Friday
morning after moving in a narrow range, sandwiched between bargain-hunting on
improved market sentiment and profit-taking from strong gains the previous day.
The bellwether Nikkei Stock Average rose 39.34 points, or 0.43%, to end the
morning at 9,216.12 after dropping to the morning's low of 9,125.35.
It was the first time the Nikkei has topped 9,200 since Oct. 2 on an intraday
basis.
The broader Tokyo Stock Price Index (TOPIX) of all First Section issues on the
Tokyo Stock Exchange (TSE) was up 6.29 points, or 0.71%, to 894.41.
The indexes hovered around Thursday's closing as investors saw few major trading
incentives. U.S. financial markets were closed Thursday for the Thanksgiving Day
holiday.
Brokers said a possibility for a sharp decline in stocks seems to have receded
after the Nikkei marked a 300 point jump Thursday.
"Yesterday's strong gains especially after the Nikkei topped 9,000 brought
positive sentiment to the market," said Hiroichi Nishi, equity general manager
at Nikko Cordial Securities Inc.
Investors were in a wait-and-see mood, except brokerage dealers and individual
investors cashing in quick profits. The Tokyo market was little affected by the
attacks in Kenya on Thursday.
Volume on the main section came to 414.52 million shares, up slightly from
Thursday morning's 409.34 million.
Advancing issues surpassed decliners 949 to 365, while 170 issues finished the
morning unchanged.
