Japanese equities rose on weak Yen; easing hopes

Source: Dukascopy Bank SA
© Scanpix/AFP
Japanese shares moved higher as weaker Yen boosted exporters. Moreover, hopes that opposition Liberal Democratic Party will win election next month and will put more pressure on the BoJ to ease its monetary policy supported Japanese stocks. Opinion polls showed that the Liberal Democratic Party is leading ahead of a December 16 election. The Nikkei 225 Index added 0.24% to close at 9,388.94. Six out of ten sectors jumped. Utilities and consumer services were the top-performers. Chubu Electric Power and  Kansai Electric Power advanced 5.55% and 5.31%. Among consumer services, Toppan Printing and Tokyo Dome climbed 0.2% and 0.38%. Exporters prolonged the rally on soft Yen, with Canon and Toyota Motor adding 0.17% and 1.71%. At the same time, oil and gas firms dragged Japan's share index lower. JX Holdings and Inpex dropped 2.82% and 0.11% amid weaker crude oil prices. Meanwhile, Panasonic and Sony slumped 0.25% and 1.92% after Fitch downgraded debt of both companies to ‘junk' status on Friday.


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