National News Nikkei surges 3.8% to highest level since 2008

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The Nikkei surged Feb. 6 to its highest level since Sept. 2008 as the yen slid to a three-year low against the dollar on news that the country's central bank governor will resign earlier than planned.

The Nikkei surged 3.8 percent, or 416.83 points, to close at 11,463.75 as export shares soared on expectations of stronger sales thanks to the yen's slide against other major currencies. A lower currency should help make Japanese products more competitive in international markets and potentially get the Japanese economy going again.

The Nikkei's surge came as the yen fell sharply after the Bank of Japan Governor, Masaaki Shirakawa, said he will step down three weeks early on March 19, for logistical reasons. Some investors took it as a sign that his replacement will be more likely to comply with the new government's wish to ease monetary policy and cheapen the yen. (AP)

日経平均3.8%上昇で、08年依頼の高水準

日経平均株価が２月６日、前日比3.8%高に上昇し、2008年の９月以降で最も高い水準となった。

Shukan ST: FEBRUARY 15, 2013

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