Japanese equities soared on easing speculation

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Japanese equities rallied on Thursday on mounting hopes that the BoJ will embark on easing measures to stimulate faltering economy. The BoJ is expected to announce monetary easing at its next meeting due on October 30. However, lingering concerns over weak corporate results and dismal PMI readings from the eurozone capped gains of Japanese shares.  The Nikkei 225 Index soared by 1.13% to end the session at 9,055.20. Nine out of ten sectors within the index surged. The top-performers were consumer services and utilities. Dai Nippon Printing and Secom rose by 1.08% and 0.85% while Chubu Electric Power and Kansai Electric Power climbed 2.61% and 5.50%. Exporters also moved higher as the Yen reached the lowest level in four months. Nissan Motor and Nikon Corp jumped 1.88% and 1.52%. On the downside, Sharp Corp plunged 4.19% after Nikkei newspaper reported that a TV maker is expected to post a net loss of JPY400 billion in H1. Nippon Electric Glass sagged 7.88% after the firm cut its profit estimate.


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Thu, 25 Oct 2012 16:58:47 GMT

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