Nikkei up as BOJ announces a new stimulus program to boost the economy

Source: Dukascopy Bank SA
Japanese equities surged on Friday amid the Bank of Japan's announcement about its new stimulus programme to end a two-decade deflation of the economy. The BOJ plans to double the monetary base in the next two years. The Nikkei 225 added 1.6%, or 199.10 points, to 12,833.64, reaching its highest value since September 2008. 138 out of 225 companies included in the gauge posted gains. Tokyo Tatemono Co Ltd jumped 21.2% to 857 yen, the highest in 4 years, as the developer's share rating was upgraded to outperform at Credit Suisse. Sumitomo Mitsui Trust Holdings Inc rose 16.7% to 531 yen, leading gains in the financial sector that increased 9.4%. Tokyu Land Corp followed with a 16% climb to close at 1,086 yen. Meanwhile, oil and gas was the only sector that traded in the red zone and plunged 1%. Nippon Paper Industries Co Ltd lost 10% to 1,206 yen, capping further rally in industrial sector. T&D Holdings Inc retreated 8.7% to 938 yen. Sony Financial Holdings Inc followed with an 8% decline to finish at 1,194 yen.

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