Tokyo stocks jumped 3.13 percent by the close Tuesday after the Bank of Japan held off expanding its asset-buying programme, but said it would boost some lending schemes to stimulate borrowing. The Nikkei-225 index soared 450.13 points to 14,843.24, scoring its biggest one-day points gain since August. The broader Topix index of all first-section issues was up 2.68 percent, or 31.95 points, to 1,224.00. Wrapping up a two-day policy meeting, the BoJ said it would keep its massive easing programme in place, in line with expectations. However, it also decided to double the amount available under loan schemes to banks in a bid to stimulate lending to firms and to finance growth-stoking projects such as environmental research and natural resources development. The move sent the yen tumbling in forex markets, a plus for shares of Japanese exporters. The unit changed hands at 102.66 yen in afternoon trade, up from around 101.95 yen before the BoJ decision. "Obviously, the market welcomed the BoJ decision," said Kenzaburo Suwa, strategist at Okasan Securities. "The fresh measures are unlikely to have a significant impact on the Japanese economy, but the market positively reacted to the fact that the Bank of Japan did take action," he added. Tatsunori Kawai, chief strategist at kabu.com Securities, told Dow Jones Newswires that "there was a sense of relief among some that at least it (the BoJ) didn't sound a more sombre tone after yesterday's worse-than-expected GDP numbers." A post-meeting statement saw the bank keep its view of the economy unchanged from last month, saying it "has continued to recover moderately" and exports have been gradually picking up. The BoJ decision came a day after weak growth data exacerbated fears that an April sales tax rise will derail Prime Minister Shinzo Abe's bid to stoke growth after 15 years of deflation. Data showed that while the world's number three economy grew 1.6 percent over 2013 -- its best performance in three years -- it slowed to 0.3 percent in the October-December quarter. In share trading exporters benefitted from the sudden fall of the yen, with Sony closing up 3.60 percent at 1,780 yen and chip component maker Kyocera up 3.73 percent at 4,611 yen. Renesas Electronics shot up 8.62 percent to 630 yen after the Nikkei economic daily reported the firm plans to start mass production of high-performance chips for automobile-control systems this year.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor