New York - A painting by Russian avant-garde artist Kazimir Malevich was sold at a New York auction for a record 60 million dollars despite concerns that the global financial crisis might dampen buyer interest, Sotheby's auction house said Monday night.
According to Sotheby's it was not only the highest price ever fetched for a Malevich, but also the highest sum ever paid in an auction for a Russian art work.
However, the abstract painting Sumprematist Composition, painted by the Russian artist in 1916 had been estimated at a minimum of 60 million dollars.
Tokyo - Tokyo stocks ended morning trading higher Tuesday as investor confidence was regained on a series of economic stimulus packages and the Asian stock market's advance the previous day.
The benchmark Nikkei 225 Stock Average rose 320.89 points, or 3.74 per cent, to 8,897.87. The index had lost 5 per cent Friday. The Tokyo market was closed Monday for a national holiday.
The broader Topix index of all first-section issues gained 28.83 points, or 3.19 per cent, to 895.95.
New York - A painting by Russian avant-garde artist Kazimir Malevich was sold at a New York auction for a record 60 million dollars despite concerns that the global financial crisis might dampen buyer interest, Sotheby's auction house said Monday night.
Tokyo - Tokyo stocks ended morning trading higher Tuesday as investor confidence was regained on a series of economic stimulus packages and the Asian stock market's advance the previous day.
