"Companies are judging it's not the time to invest because of uncertainties over the global economy"
- Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management
Japanese all industries activity index rose less than expected last month, the Japanese Ministry of Economy, Trade and Industry reported Friday. A leading indicator of economic health, which accounts for about 60% of total industry activity, advanced slightly by 0.1%, up from -0.6% in the previous month, below analysts' forecast of and 0.2% increase.
"Companies are judging it's not the time to invest because of uncertainties over the global economy," said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management in Tokyo.
"The BOJ should expand its asset purchases this year because they are far from their inflation target and will come under increased pressure from the government to ease further."
The Nikkei 225 Stock Average climbed 0.22 per cent, or 19.82 points, to 9,002.68. The broader Topix Index gained 0.28 per cent, or 2.09 points, to 754.39.
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