Nikkei peaks as Abe aims at agressive easing

Source: Dukascopy Bank SA
© scanpix/AFP
Japanese equities jumped, reaching their highest level since March 10 in the year 2011, the day before earthquake, as the Yen keeps weakening and the new government aims at more monetary easing. Investors are very optimistic about the new government, as Abe intends to change the BOJ's inflation target and push the bank for an aggressive monetary policy. The Nikkei 225 index advanced 0.9% to 10,322.98. Only two out of nine sectors in the index declined. Financials climbed the most by 1.49% on mounting hopes the monetary stimulus would help to raise borrowing demand and investments. A 15% rally in the shares of Nippon Sheet Glass led to gains in the industrials sector that was 1.06% higher, while a 10% surge in the shares of Nisshin Steel Holdings prompted a 0.7% increase in the basic materials sector. Furthermore, the retail company Takashimaya's shares added 8.23%, supporting the consumer goods sector which was 1.05% up. Alongside to that, utilities shrank 0.94% and health care slid 0.21%. Among worst performing companies was Sharp Corporation, down 4.8%, after Nikkan Kogyo report showed the company has failed to reach an agreement to sell a plant in China.

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Thu, 27 Dec 2012 15:59:35 GMT

Hong Kong shares edge higher

Emerging-market equities advanced for the fourth day, prompted by soaring technology shares, as Chinese industrial earnings rallied and U.S. lawmakers are about to resume budget talks. Honk Kong blue chips also advanced sending the Hang Seng index 0.4% up to 22,619.8. All but two sectors in the index edged higher with basic materials, industrials and technology sectors advancing the most

Thu, 27 Dec 2012 13:48:13 GMT

Dow Jones falls after the Christmas Holiday

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