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Market Update : 
Nikkei Surges 4%
Author: 123jump.com Staff
123jump.com
Last Update: 7:53 AM EDT April 02 2008

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Japanese stocks surged after tracking gains in the U.S. and Europe. More than 70% of trading on Tokyo Stock Exchange originates with foreign investors. Nikkei 225 rose 4.21% or 532.95 to 13,189.36, and the broader Topix Index gained 1.5% or 17.5 at 1,230.49. Of the Nikkei 225 index shares 214 gained, 8 declined and 3 were unchanged. Shinko Securities led advancers in the Nikkei 225 index shares with a surge of 14%.

 
Nippon Telegraph and Telephone sales 35.2% stake in Sri Lanka Telecom

AFP news reported that Nippon Telegraph and Telephone (NTT) said yesterday it had sold its 35.2% stake in state-owned Sri Lanka Telecom for $297 million.

The purchase by Malaysia''s Global Telecommunications Holdings (GTH) NV ended the largest single investment in Sri Lanka by a Japanese firm.

Sri Lanka Telecom (SLT) shares closed 16.4 % higher at 48.00 rupees on Tuesday after Global said it would be willing to buy out the remaining shareholders at 50.50 rupees.
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