Arab Today, arab today tokyo stocks soar on boj easing plan
Last Updated : GMT 22:58:06
Arab Today, arab today
Arab Today, arab today

Tokyo stocks soar on BoJ easing plan

Arab Today, arab today

Arab Today, arab today Tokyo stocks soar on BoJ easing plan

Tokyo - AFP

Tokyo stocks soared on Friday, hitting record volumes as investors embraced sweeping new Bank of Japan stimulus measures which sent the yen plunging, spelling good news for the key export sector. The scope of the BoJ action Thursday -- including doubling the money supply -- took some analysts and investors by surprise, despite expectations of major moves by the bank in its first meeting under new governor Haruhiko Kuroda. The yen slumped against the dollar and euro after Thursday's announcement, the benchmark Nikkei jumped and bond yields hit a record low as Kuroda vowed no let-up in the battle against the decades of deflation that has weighed on the world's third-largest economy. The Nikkei soared over four percent in early Friday trade, past 13,100 to intraday highs last seen in August 2008 just before the global financial crisis rocked markets. It ended Friday's session up 1.58 percent, or 199.10 points, to 12,833.64 on its biggest volume since the Tokyo Stock Exchange opened in 1949, with 6.45 billion shares changing hands. The broader Topix index of all first-section shares jumped 2.74 percent, or 28.48 points, to finish at 1,066.24. Shares were boosted by a tumbling yen, which sank to a three-and-a-half year low against the dollar, with the greenback buying 96.35 yen against 96.33 yen in New York late Thursday, after jumping as high as 97.05 yen earlier Friday. The dollar was trading below 93 yen before the BoJ announcement. The euro bought 124.59 yen from 125.20 yen in US trade, after soaring to 125.43 yen in earlier Tokyo trade on Friday. Monetary easing tends to weaken yen, which makes Japanese goods more competitive overseas and lifts companies' foreign-earned profits when converted back to yen. Investors have so far given a thumbs up to the economic policies of Prime Minister Shinzo Abe, dubbed "Abenomics", after he swept December elections on a pledge to kickstart Japan's lumbering economy. "Japanese stocks had long been undervalued, so the gain is justified," said Daisuke Uno, chief market strategist of Sumitomo Mitsui Banking Corp. "But we also need to keep an eye on the downside of the fresh easing measures... We don't know where this gamble will take us." Abe on Friday applauded the BoJ, with Japanese media quoting him as saying the market reaction was "exactly what the measures were expected to do". Kuroda, meanwhile, brushed off worries of an asset-price bubble, a big fear in Japan after the last two decades of limp growth followed a huge stock and real-estate bubble in the late 1980s. Boston University professor William Grimes warned there "are no guarantees" after years of tepid policy action from the central bank. "Deflationary expectations are much more firmly entrenched among Japanese companies and consumers (now)," he said. "Also, Japan's fiscal situation has become much worse." Japan, which has proportionately the worst debt load among industrialised nations, has been wrestling with falling prices for years, putting the brakes on growth because it encourages people to put off buying goods in the hopes of paying less down the road and hurting producers in the process. In Tokyo stock trading, exporters gained with Sony finishing up 0.44 percent to 1,580 yen, while Canon jumped 1.54 percent to 3,290 yen, Toyota rose 3.35 percent to 5,090 yen and industrial giant Hitachi finished up 3.01 percent to 547 yen. Among the BoJ measures are expanding its asset-purchase programme to include riskier bets such as exchange-traded funds (ETFs) and real-estate investment trusts. ETFs are similar to an index fund, but are market traded like stocks. It also plans to double the nation's money supply and buy longer-term government bonds, a move aimed at pushing down long-term interest rates to encourage companies and individuals to borrow instead of hoarding their cash.

arabstoday
arabstoday

GMT 16:08 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 04:42 2017 Saturday ,14 October

Egyptian Bourse gains EGP 2.6 bn

GMT 04:32 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 20:52 2017 Thursday ,12 October

Egyptian Bourse loses EGP 3 bn

GMT 13:12 2017 Thursday ,12 October

Bahrain Bourse daily performance

GMT 11:06 2017 Thursday ,12 October

Wall Street ends at fresh records; Spanish stocks gain

GMT 21:13 2017 Wednesday ,11 October

Bahrain Bourse daily trading report (update)
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tokyo stocks soar on boj easing plan Arab Today, arab today tokyo stocks soar on boj easing plan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tokyo stocks soar on boj easing plan Arab Today, arab today tokyo stocks soar on boj easing plan

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday