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Tuesday, November 24, 1998 Published at 13:25 GMT


Business: The Markets

Tokyo market report




[ image:  ]
Tuesday close

The Nikkei stock average finished above 15,000 for the first time since August 25, cheered by the strong rally on Wall Street overnight.

"The Nikkei continued to advance reflecting the record high in New York," said Sachio Ishikawa, manager at Chuo Securities.

The index climbed 384.70 points or 2.6% to 15,164.64.

Japanese financial markets were closed for a national holiday Monday.

Shares in international blue-chip companies rose amid optimism that the US stock market's ability to post a new high suggested that the US economy remained strong.

Sony, Honda and TDK all advanced.

The Tokyo Stock Exchange halted trading in Topix futures and equity options from the open until 0500 GMT due to a computer problem, but the impact was limited as trade in the more active Nikkei futures continued on the Osaka Securities Exchange.

The market shrugged off signs of strain in the political coalition agreed last Thursday by the governing Liberal Democratic Party and the opposition Liberal Party.

News of the coalition boosted shares last week as it raised hopes of greater political stability and a more aggressive programme of tax cuts.



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