Japanese equities gain as Haruhiko Kuroda pledges for more stimulus

Source: Dukascopy Bank SA
Japanese Nikkei 225 Index edged higher on Monday, as the nominee for central bank's position of governor outlined a sound policy to tackle deflation, as he pledged to not set any boundaries to the amount of money that needs to pumped into economy. Gains in the index were mainly led by real estate and financial companies. The Nikkei climbed 0.4% to close at 11,652.29 after earlier reaching its 53-month high at 11,767.68. Six out of ten groups in the index posted gains. Hitachi Zosen Corp. jumped 12.7%, the most in the benchmark index, to 160 yen to cap further losses in industrial shares. Heiwa Real Estate Co. followed with a 8.8% rise and lifted financials that were 2.4% up. Sapporo Holdings Ltd, a producer of alcoholic and non-alcoholic beverages, added 8.1% to 346 yen. Alongside to that, Sumitomo Metal Mining dropped 4.9% and dragged down basic materials by 0.8%.

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Mon, 04 Mar 2013 15:09:03 GMT

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