Japanese shares rally on weakening Yen

Source: Dukascopy Bank SA
Japanese equities advanced, sending the Nikkei 225 Stock Average to its highest level since 2008 on speculation Masaaki Shirakawa, the governor of BOJ, announced he will step down earlier than scheduled. The Nikkei 225 advanced 3.8% to 11,463.75, its highest level in more than four years. All ten groups in the benchmark jumped at least 2%. All ten groups in the benchmark gauge rose at least 2% with consumer goods posting the biggest gain of 4.2%. Among best performers was Toyo Seikan Kaisha Ltd jumped 17%, the most in the index, after the packaging products maker raised its profit forecast by 60%. Furthermore, Mitsui Engineering & Shipbuilding followed with a 12% increase, while Mitsubishi Heavy Industries rose 10.4% to 533 yen, the highest level since September 2008 after the maker of heavy equipment announced it aims at turning a profit on Boeing's Dreamliner production. Meanwhile, among worst performers was Mitsubishi Motors Corporation with its shares tumbling 2.5% to 115 yen to cap further gains in the consumer goods group, while Toyobo lost 2.2%.
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