JAPAN: Nikkei average rallies to a six-month high and the broader Topix index breaches the 800 level, after the Bank of Japan expanded its asset buying programme
Record ID:
466073
JAPAN: Nikkei average rallies to a six-month high and the broader Topix index breaches the 800 level, after the Bank of Japan expanded its asset buying programme
- Title: JAPAN: Nikkei average rallies to a six-month high and the broader Topix index breaches the 800 level, after the Bank of Japan expanded its asset buying programme
- Date: 16th February 2012
- Summary: TOKYO, JAPAN (FEBRUARY 15, 2012) (REUTERS) EXTERIOR OF TOKYO STOCK EXCHANGE (TSE) SIGN READING IN ENGLISH "TOKYO STOCK EXCHANGE" MAIN HALL OF TSE STOCK TICKER ABOVE MAIN HALL STOCK PRICE BOARD AT CLOSE OF TOKYO MARKETS BOARD SHOWING CLOSING VALUE OF NIKKEI 225 INDEX AT 9260.34, UP 208.27 MAN LOOKING AT BOARD BOARD SHOWING DOLLAR/YEN EXCHANGE RATE VARIOUS OF WORKERS IN MAIN HALL OF TSE SIGN READING IN ENGLISH: "TOKYO STOCK EXCHANGE" STOCK TICKER ABOVE MAIN HALL MORE OF TICKER
- Embargoed: 2nd March 2012 12:00
- Keywords:
- Location: Japan
- Country: Japan
- Topics: Finance
- Reuters ID: LVA6044884WQC9R5T3H57D9UL29F
- Story Text: Japan's Nikkei index rallied to a six-month high on Wednesday (February 15), after the Bank of Japan (BOJ) expanded its asset buying programme the previous day.
The BOJ's surprise move on Tuesday (February 14), which included adding 10 trillion yen (128 billion U.S. dollars) to its asset purchase programme, pushed the yen to a 3-1/2-month low against the dollar, lifting the appeal of exporters' shares.
Among some of the leading shares, Toyota Motor Corp rose 4.7 percent and Honda Motor Co jumped 3.3 percent, while TDK Corp advanced 4.5 percent and Komatsu Ltd rose 5.3 percent.
The benchmark Nikkei rallied 2.3 percent to 9,260.34, its highest close since last August and soaring above its 200-day moving average near 9,050 that had been seen as a resistance point.
Market participants said the Nikkei was pushed higher by short-covering triggered after it rose above its 200-day average. Strategists said it would likely stay in the 9,200 range this week but continue to test higher if the yen kept softening against the dollar.
Trading volume spiked, with 2.9 billion shares changing hands on the main board, its heaviest daily volume since last August.
The broader Topix advanced 2.1 percent to 802.96, its first rise above 800 in six months.
The benchmark Nikkei is up 9.5 percent so far this year as an improving outlook for the U.S. economy and an injection of 489 billion euros (642 billion U.S. dollars) of three-year loans by the European Central Bank to boost liquidity counters disappointing corporate earnings in Japan. - Copyright Holder: REUTERS
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