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Nikkei adds 0.65 pct on optimism following China's rate cut

Xinhua, October 26, 2015 Adjust font size:

Tokyo stocks rose 0.65 percent Monday to a fresh-two-month high as China unveiling further monetary stimulus on Friday and cutting its key interest rate supported widespread buying.

The 225-issue Nikkei Stock Average gained 121.82 points, or 0.65 percent, from Friday to close the day at 18,947.12, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange ended 11.15 points, or 0.72 percent, higher at 1,558.99.

Local brokers said sentiment was positive throughout the day and buying got off to a good start on the back of the People's Bank of China's recent move to cut interest rates and lower the reserve requirement ratio.

At the close, pharmaceutical, air transport and electric machinery issues were among the day's notable gainers.

The turnover was 2,125.4 billion yen (about 17.55 billion U.S. dollars). Enditem