Nikkei Average Hits Post-Bubble High for Second Consecutive Day

TOKYO, Feb 16 (News On Japan) - The Nikkei Stock Average at the Tokyo Stock Exchange momentarily surged over 700 points Friday morning, reaching the 38,800 range, before profit-taking saw it close at 38,487, up 329 points from the previous day.

In morning trading on February 16, with a wide range of stocks buoyed by gains on Wall Street, the Nikkei momentarily approached within 100 yen of the post-bubble high of 38,957 during trading hours, reaching 38,865.

However, profit-taking later ate into the gains, and the index failed to set a new all-time high.

While some market participants see a "psychological barrier" to surpassing the all-time high, others believe it could be exceeded as early as next week.

Source: ANN

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