15 Feb '12, 7am

Tokyo stocks close up 2.30% at six-month high

Tokyo stocks close up 2.30% at six-month high

TOKYO: Tokyo stocks soared 2.30 per cent to close at their highest level in more than six months on Wednesday as the Bank of Japan's credit easing sent the yen lower, boosting exporters' shares. The Nikkei 225 index at the Tokyo Stock Exchange gained 208.27 points to 9,260.34, the best finish since August 5, while the Topix index of all first-section issues jumped 2.05 per cent, or 16.16 points, to 802.96. "The yen is trending weaker and the Bank of Japan's monetary easing continues having effects," said Yoshihiro Okumura, general manager at Chibagin Asset Management. The weaker yen raised expectations for an earnings recovery at Japanese firms in the coming fiscal year, said Yutaka Shiraki, senior equity strategist at Mitsubishi UFJ Morgan Stanley Securities. "Sales and forex rates have been seen as the key to earnings recovery for the next year," he told Dow Jones Newswi...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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