Home/FX/Newsfeed

Nikkei Closes At Seven Year High After BOJ Stimulus

Share Print 0

Tokyo stocks soared Friday, with the Nikkei stock index ending at its highest level in around seven years, after the Bank of Japan decided to expand its massive asset purchase program.

The 225-issue Nikkei Stock Average ended up 755.56 points, or 4.83 percent, from Thursday at 16,413.76, its highest finish since Nov. 2, 2007. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished up 54.74 points, or 4.28 percent, at 1,333.64.

The Tokyo market started on a firm note on the heels of an overnight rise in U.S. stocks stemming from the country’s strong gross domestic product data.

Also supporting the market was a news report that Japan’s Government Pension Investment Fund could announce its new investment portfolio as soon as Friday, said Nobuhiko Kuramochi, chief strategist at Mizuho Securities Co.

via Mainichi

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top