Nikkei leaps after four-day slide

TOKYO stocks rallied today after tumbling more than 7% in four consecutive days of gloomy trading. Share buyers were encouraged by hefty overnight gains on Wall Street and the Nasdaq in New York, and the Nikkei 225 Average jumped 1.65% to close at 10,839.93.

Recent fears that a slowdown in consumer spending would halt Japan's fragile recovery were offset by Wall Street's 3.23% rally, sparked by upbeat earnings forecasts from McDonald's and Wal-Mart. Buyers were also encouraged by the prospect of institutional money flowing in after investment bank Morgan Stanley advised clients to start switching from US stocks to international markets.