Japanese equities soared after Shinzo Abe comments

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Source: Dukascopy Bank SA
© Scanpix/AP
Japan's stocks jumped on Thursday after Shinzo Abe, who is likely to win December's election, urged further stimulus measures. He said that the BoJ should lower the interest rates to zero or even below zero to increase lending. The Nikkei 225 Index soared 1.9% to close at 8,829.72. Nine out of ten sectors within the index advanced. The top-performers were technology and financial sectors. Alps Electric and Canon climbed 7.05% and 4.60%, while Sumitomo Mitsui Financial Group added 3.56%. Sumitomo Mitsui Financial Group announced a 5.5% year-on-year increase in net profit for its fiscal half ended in September. Toyota Motor jumped 5.07% even despite a recall of 2.77 million vehicles worldwide in wake of water pump and shaft defects. At the same time, Sony sank 8.85% after reports that the firm plans to raise USD1.9 billion via convertible bonds. One third of the amount raised will be invested in Olympus Corp.

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