NIKKEI

Japanese Stocks Rise on BOJ Outlook, US Economic Resilience

Japanese equities climbed as investors embraced the view that the central bank will maintain its easy monetary policy, and as US data showed resilience in retail sales. 

The Topix Index rose 1.2% to 2,278.97 as of the market close in Tokyo, while the Nikkei advanced 1.2% to 32,896.03.

Toyota Motor Corp. contributed the most to the Topix Index gain, increasing 2.3%. Out of 2,156 stocks in the index, 1,858 rose and 226 fell, while 72 were unchanged.

"With all the US markets rising, investor sentiment seems to have improved considerably," said Ryuta Otsuka, strategist at Toyo Securities.

Japan stocks also benefited from Bank of Japan Governor Kazuo Ueda's comment that the BOJ will continue to maintain its easy monetary policy until there's a shift in its assessment for stably achieving its inflation target.

"The current market seems to be supported by the easing stance," said Hideyuki Suzuki, general manager at SBI Securities. "The BOJ's easing stance will at least help maintain the Japan-US interest rate differential." 

 Source : Bloomberg

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