Nikkei tops 16,000 for 1st time in 6 years
TOKYO -- Tokyo stocks are up midday Tuesday, with the Nikkei Stock Average briefly jumping about 160 points to 16,029 and surpassing the psychologically important 16,000 mark for the first time since Dec. 11, 2007, prior to the financial crisis that began in the fall of 2008.
The markets were closed Monday for a national holiday.
The U.S. Federal Reserve began cutting back its bond-buying last week, but the pace of the so-called taper is slow. That, and the continuing recovery of the U.S. economy pushed the Dow Jones industrial average to a fourth straight record close Monday.
The Nikkei average is also getting a lift from the dollar's rise to the 104 yen range, with heavy buying by overseas investors.