English/Nat Tokyo stock prices surged on Wednesday morning following a dramatic rebound on Wall Street overnight. The benchmark 225-issue Nikkei Stock Average jumped 564-point-93 points, or 3-point-46 percent, closing the morning session at 16,877-point-62. On Tuesday, the average lost 725-point-67 points, or 4-point-26 percent.The U.S. dollar was lower against the yen. Tokyo stocks rebounded following the overnight rally on Wall Street and stronger Nikkei futures on the Chicago Mercantile Exchange. Electronics and banking issues led the rally, and foreign and domestic institutional investors were among the most active buyers, traders said. The market was also buoyed up by arbitrage buying following higher futures prices, traders said. The rebound followed an overnight upswing in New York, where the Dow Jones industrial average registered its biggest ever one-day gain of 337-point-17 points. Japan's finance minister reiterated Wednesday that the country's economy is sound as reflected by the morning rebound on the Tokyo Stock Exchange. Analysts, however,say market sentiment remains cautious in Tokyo as investors remain wary about the direction of the Hong Kong market and the health of Southeast Asian economies. SOUNDBITE: (English) "The big rebounding in New York is a very positive news for Tokyo Stock Exchange as well. However the rebounding is not quite as significant as New York. That underlines the differences in fundamentals between the U.S. and Japanese economy in my view. But nevertheless, the fact is that the continuous declines in Tokyo Stock Exchange to some extent was broken by yesterday's news. I guess that we were reminded again that New York stock exchange determines the world stock markets' trend. SUPER CAPTION: Mineko Sasaki-Smith, Chief economist, CS First Boston Traders said that persistent worries that Japan's economic recovery continues to dampen sentiment. The broader Tokyo Stock Price Index of all issues listed on the first section was up 46-point-11 points, or 3-point-65 percent, to 1,309-point-22. The TOPIX closed down 49-point-34 points, or 3-point-76 percent Tuesday. On the foreign exchange market, the dollar was traded at 120-point-55 yen, down 0-point-37 yen from late in Tokyo on Tuesday but above its late New York level of 120-point-47 yen overnight. The yield on the benchmark No. 182 10-year Japanese government bond rose to 1-point-650 percent from 1-point-625 percent Tuesday, driving its price down to 109-point-41 yen from 109-point-61 yen. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/e457c325f856248674f4cc7086be7327 Find out more about AP Archive: http://www.aparchive.com/HowWeWork