Japanese stocks bullish on Wednesday

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Source: Dukascopy Bank SA
Japanese shares advanced, with the Nikkei 225 Stock Average snapping is biggest jump in nearly two months, as U.S. factory orders surged on higher demand for motor vehicles and a two-day policy meeting of BOJ started. The Bank of Japan is forecast to increase its monthly bond purchases by around 50% at the meeting ending on April 4. The Nikkei 225 Index rallied 3% to 12,362.20 for the biggest gain since February 6. All sectors in the index edged higher. Consumer services group jumped 9%, as the Asian biggest apparel chain soared 14% after posting a 14% increase in same-store sales for its Uniqlo Japan outlets on year in March. Utility shares were boosted by Tokyo Electric Power Co that climbed as much as 24% after releasing a report saying the utility plans to save 175 billion yen a year through switching to power plants fired by coal. Carmakers posted gains. Mazda Motor Corp. that gets nearly one third of sales from North America, added 6.9%, while Toyota Motor Corp. increased 3.8% to close at 4,790 yen. On the downside, Sharp Corp. slid 6% to 246 yen. The retailer will unveil a business plan for its revival on May 14.


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