Japanese stocks rose on Mario Draghi comments

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Source: Dukascopy Bank SA

Japanese equities climbed on Friday, drawing strength from eurozone's optimism. On Thursday, the ECB president Mario Draghi pledged to buy bonds of the troubled eurozone's members to ease debt pressure in the region. However, the upswing was capped as the BoJ refrained from further stimulus measures despite signs of economic recession and mounting political pressure. The Nikkei 225 Index moved higher by 0.44% to end the week at 8,863.30. Seven out of ten sectors within the index rose. Basic materials and oil and gas firms were the top-performers. Hokuetsu Kishu Paper, JFE Holdings and Mitsubishi Chemical Holdings jumped 0.81%, 1.87% and 1.03%, respectively. Oil and gas companies rallied on higher crude oil prices amid escalated tensions in the Middle East. Inpex and JX Holdings added 1.61% and 0.23%. On the downside were telecommunications, with NTT DOCOMO and Softbank slumping 0.40% and 2.56%. Toyota fell 1.62% on reports that its sales in China shed 40% last month.

 

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