Nikkei Up 14% in Record Rally

Bank support plans boost Japan's index to biggest gain in its history
By Rob Quinn,  Newser Staff
Posted Oct 14, 2008 1:59 AM CDT
A Tokyo Stock Exchange worker reacts after the opening bell of today's trading.   (AP Photo/Katsumi Kasahara)
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(Newser) – The Nikkei  surged over 14% on the news that the US and Europe will buy up stakes in troubled banks, Bloomberg reports. The index's biggest gain in history follows its biggest loss in its history last week. Japan's markets were closed for a holiday yesterday when global indexes soared. Hong Kong's Hang Seng index rose 4.2% for a two-day gain of 15%.