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Stocks

Japanese stock upturn reflects stabilizing financial markets

The Nikkei Stock Average picked up over 661 points on Wednesday.

TOKYO -- The stock market logged its second straight up day here on Wednesday, posting the third-biggest gain of the year and signaling that the stormy global financial markets are heading toward calmer waters.

    The Nikkei Stock Average advanced 661 points, or 4.1%, to 16,746, a level not seen since Feb. 8. The across-the-board surge, led mainly by export-heavy stocks, was driven by stronger-than-expected improvement in U.S. manufacturing indicators.

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