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LEAD: Dow posts 1.5-year high on hopes for global economic recovery.

NEW YORK, March 29 Kyodo


New York stocks climbed moderately Monday with the Dow Jones index marking a 1.5-year closing high on expectations the world economy will follow a sustainable recovery path.

The 30-issue Dow Jones Industrial Average, which rose 9.15 points Friday, gained an additional 45.50 points to 10,895.86, the highest finish since late September 2008.

The tech-focused Nasdaq Composite Index, which edged down 2.28 points on Friday, rose 9.23 points to 2,404.36.

Investor confidence about the world economy has grown following an agreement by European Union countries on a bailout package for debt-ridden Greece, market analysts said.

The market was also aided by a Commerce Department report showing that consumer spending in February grew 0.3 percent from the previous month for the fifth consecutive monthly increase.

The market, however, lacked further upward energy as profit taking increased following recent gains, the analysts said.
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Publication:Japan Weekly Monitor
Date:Apr 5, 2010
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