Japan Shares Gain as Yen Drops to 4-Year Low After G-20
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Bloomberg, (22/4) -- Japanese shares
gained, with the Topix Index rising to the highest since 2008, as the
yen traded near a four-year low after the Group of 20 nations refrained
from opposing Bank of Japan stimulus policies.
The Topix added
2.3 percent to 1,152.90 as of 9:37 a.m. in Tokyo, with all 33 industry
groups advancing. The Nikkei 225 Stock Average rose 2.1 percent to
13,594.34. All but two stocks climbed on the benchmark.
“The
stock market is obediently reacting to the weaker yen after the G-20
approved of Japan’s monetary easing measures,” said Koichi Kurose, chief
market strategist at Resona Bank Ltd. in Tokyo. “Going forward it’s
hard to expect much positive surprise from the Bank of Japan and
government, and the pace of gains may slow down. However, the weaker
yen, stronger stocks trend is likely to continue until mid-May.”
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