BUSINESS ABROAD: Optimism Unlimited

Wall Street's optimism was matched on the world's stock exchanges:

¶The Tokyo exchange set two records in a week. The number of shares changing hands rose by 30% during the week and the closing average price of 225 stocks hit $1.71, highest since the market reopened in 1949. Reasons: Premier Kishi's recent election victory, a cut in the central bank rate to 7.67%, and Japan's third consecutive bumper rice crop. ¶ On London's Threadneeue Street, where stocks have bounced back 30% since the low point last February, industrial prices rose to a new 1958 high every day in...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!