Japanese stocks up as BOJ reiterates its plans for stimulus

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Source: Dukascopy Bank SA
Tokyo Stock exchange traded green on Thursday, as Bank of Japan reiterated its plans for stimulus measures, boosting investors' confidence. In addition, the Topix index extended gains for its longest winning streak in year. The Nikkei 225 Index rallied 1.96%, or 261 points, to close at 13,549.16. All but one group edged higher with consumer goods posting the biggest gain. Tokyo Electric Power, the biggest electrical utility in America, jumped 13%, as the company is current turning to coal to bring down the costs of oil purchasing by one third. Furthermore, Unitika Ltd rose 10.9% to end at 61 yen to pace gains in the best performing consumer  goods group. Furthermore, Mitsubishi Heavy Industries followed with a 10.3% increase, lifting the industrial group that was 1.9% up. On the downside, Oki Electric Industry Co lost 3.5% to 137 yen.

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