Tokyo Stocks Advance on Expectations of Decline In U.S. Interest Rates; London Shares End Lower ---- A Wall Street Journal News Roundup
Tokyo stock prices rose to record levels for the third consecutive day amid growing expectations of lower U.S. interest rates.</br></br>U.S. October retail sales and industrial production reports Tuesday indicated a slowdown in the U.S. economy and fueled speculation that the U.S. Federal Reserve will ease its credit policy, observers said.</br></br>London shares eased in quiet trading.</br></br>At Tokyo, the Nikkei index opened higher, collecting small-lot buying in a wide range of issues and remained in the plus column through the day, reaching nearly 36000 at midmorning.</br></br>The Nikkei index, covering 225 selected issues, was up 83.59 points to 35852.23, posting a new high. The index's intraday peak was 35976.78. It gained 18.52 Tuesday.