Nikkei heads for its highest close since 2008

Source: Dukascopy Bank SA
Japanese shares surged on Monday, as BOJ launched new stimulus package to boost the economy and end deflation in the country. In addition, BOJ will increase its bond purchasing program to 7.5 trillion yen, up from previously forecast 5.2 trillion yen. The Nikkei 225 Index jumped 2.8% to 13,192.59 points, the highest value since August 2008. 218 out of 225 companies and all the sectors included in the gauge posted gains with financial sector climbing 6.4%. Tokyo Tatemono Co Ltd, a property developer, rallied 16% to 994 yen, as Credit Suisse added the company to its "Top Picks" list. Furthermore, Tokyu Land Corp followed with an 11.6% advance to finish at 1,212 yen. Credit Saison Co Ltd was the third best performer with a 10.7% rise to close at 2,909 yen. Among the few losers, Sony Financial Holdings Inc retreated 2.6% to 1,163 yen, capping further increase in financial sector. Nikon Corp lost 1.1% to 2,107 yen, extending its losses for a third straight week. Ajinomoto Co Inc, a food and chemical corporation, declined 0.4% to 1,360 yen amid the Saturday's announcement of acquiring the US-based Althea Technologies for $175 million.
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