Nikkei Recovers Pre-Quake Level On 'Fiscal Cliff' Deal

TOKYO (NQN)--Tokyo stocks surged Friday, with the Nikkei Stock Average soaring 292.93 points, or 2.82%, to close the first day of trading for 2013 at 10,688.11.

The benchmark index surpassed the closing price of March 10, 2011, the day before the Great East Japan Earthquake, and rose to the highest level since March 4, 2011, when the index hit 10,693.

During New Year's holidays in Japan, Wall Street surged after U.S. authorities managed to temporarily resolve the so-called fiscal cliff crisis. As a result, the dollar appreciated to the upper-87 yen level, the currency's strongest point in two years and five months. Investors bought a broad range of large-cap exporters, including Toyota Motor Corp. (7203), pushing up the Nikkei average.

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