LEAD: Dow ends at yearly high on G-20's pledge to keep stimulus steps.
(EDS: RECASTING WITH END OF TRADING)
New York stocks surged Monday with the Dow Jones index scoring a new closing high for the year on the Group of 20 countries' pledge to keep stimulus measures during their weekend financial meeting in Britain.
The Dow Jones Industrial Average, which gained 17.46 points last Friday, added 203.52 points to 10,226.94, the highest finish since early October last year. The Dow ended higher for four trading days in a row.
The tech-heavy Nasdaq Composite Index, which rose 7.12 points last Friday, gained an additional 41.62 points to 2,154.06.
Investors' confidence in the global economy was bolstered after the finance ministers and central bank governors from the G-20 industrial and emerging countries pledged to take more pump-priming measures at the conclusion of their meeting in St. Andrews, Scotland, on Saturday.
A statement the G-20 countries issued after the meeting said they have agreed to keep stimulus in place until the recovery of the global economy is assured.
Investors also took a cue from the dollar's downswing against other key currencies as they expect the trend to boost U.S. companies' competitiveness overseas, market analysts said.
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|Publication:||Japan Weekly Monitor|
|Date:||Nov 16, 2009|
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