Nikkei jumped on China's easing hopes

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Japan's equities rallied on Thursday after Wen Jiabao, China's PM, announced than easing inflationary pressure in China will allow the government to fine-tune its monetary policy further. Moreover, slowing CPI growth in the US also spurred speculation that the Fed may implement more stimulus measures.  Nikkei surged 1.88%, approaching a six-week high of 9,092.76. Nine out of ten industries included in the index soared. The largest gainers were technology and industrial shares. Canon, Toshiba and Fujitsu surged 2.75%, 3.47% and 3.24%, respectively. FANUC also followed bullish trend, advancing by 4.29% on weaker Yen. Meanwhile, Dai-Ichi Life Insurance was the top-gainer after Moody's Investors Service announced that the company's investment in Janus Capital Group was positive. At the same time, financials were mixed, with Bank of Yokohama jumping by 0.80% and Aozora Bank slumping 3.32%.

 

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