Around the World's Markets: Tokyo

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The Independent Online
THE BENCHMARK Nikkei average surged on the back of Thursday's late rise on Wall Street, closing more than 4 per cent higher at 16,378.8.

Brokers said that foreign investors accounted for most of the trade as Japanese companies ended a recent bout of profit taking, aimed at locking in profits ahead of their book-closings on 31 March. "With the Dow Jones up at almost 10,000 on Thursday and a perception that stocks in the world's second-largest economy may be cheap, people are reassessing the whole situation," said one analyst.