Japanese Stocks Touch 15 Year High on Fed Patience

Japan’s Nikkei share index closed at a 15-year high after data showed Japan’s trade deficit more than halved in January, due to lower oil prices and a strong rise in exports.

The benchmark Nikkei 225 rose 0.37% to close at 18,267.39 points.

The trade deficit shrank to 1.2tn yen ($9.9bn; £6.4bn) from 2.8tn yen a year earlier, which beat market forecasts.

Japanese exports rose by 17% in January from a year earlier, marking the fifth straight month of increases.

Asia’s second-largest economy is benefiting from the effect of the weakened yen, which has led to higher shipments of cars and electronics to other parts of the world.

Imports fell by 9%, helped by a fall in global oil and gas prices.

In Australia, the benchmark S&P/ASX 200 ended 0.2% lower at 5,904.20 points after falling commodity prices hit mining and energy-related stocks.

The rest of Asia is mostly closed for the Lunar New Year holiday, with China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan and Vietnam markets all shut.

via BBC

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