January 22, 2016
The Tokyo Stock Exchange rose 5.88 percent, its biggest gain in four months and a half, following comments from the head of the European Central Bank (ECB ), as well as the rebound in oil prices
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TOKYO The Tokyo Stock Exchange rose 5.88 percent, its biggest gain in four and a half months, following comments from the head of the European Central Bank (ECB) and by the rebound in oil prices.
Asian markets reacted hopeful that more monetary stimulus injected into the economy Eurozone.
The statements by ECB President Mario Draghi regarding the institution could take new stimulus in March, they helped cut the overall poor run of markets and encouraged investors to both sides of the Atlantic.
“Speculation that the Bank of Japan may ease further next week has intensified after the statements of Draghi” hiwada Hiroaki, strategist at Toyo Securities Co. he said.
Investors in Japanese equities, along with references to cheer ECB and oil, have celebrated the turnaround in the foreign exchange market. The yen has curbed rises that were recorded in the middle of the latent risk aversion in the markets.
hiwada also noted that investors returned to buy after the sharp declines in the previous two days. “Increased risk appetite sparked a relief rally,” he said.
At the close of trading, Tokyo’s main indicator, the Nikkei 225, closed the final day with a gain of 941.27 points (5.88 percent) to settle at 16 thousand 958.53 units.
The second indicator, the Topix, which represents the values of the first section, rose 72.70 points, or 5.59 percent, to the 374.19 thousand units.
The good performance of the Chinese market, which opened higher and rose in the afternoon, also contributed to the good mood among investors.
The Shanghai Composite Index recorded a gain of 36.08 points (1.25 percent) to close at two thousand 916.56 units.
Meanwhile, the Shenzhen Component rose 135.59 points (1.36 percent) to stand at ten thousand 111.57 units, said the Xinhua agency.
Notimex
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