Japanese stocks rose
for a second day after the Bank of Japan’s unexpected boost to stimulus,
paring the Topix index’s worst start to a year since 2009. Lenders fell
again following the central bank’s decision to start charging for some
of their deposits held at the institution.
The Topix index added 1
percent to 1,446.97 as of 9 a.m. in Tokyo, after closing higher on
Friday amid wild swings as investors assessed the BOJ’s plan to
introduce a negative interest rate on some deposits. The Nikkei 225
Stock Average gained 1 percent to 17,688.83. The yen traded at 121.35
per dollar after slumping 1.9 percent on Friday.
Gains on Friday pared
the Topix’s January loss to 7.5 percent. The measure fell into a bear
market on Jan. 20, buffeted by concerns of a slowdown in China and the
rout in oil and other commodities. Banks, energy explorers and insurers
were the only decliners among the 33 Topix industry groups on Monday.
Source : Bloomberg
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