The Nikkei 225 benchmark in Japan rose to a 32-month high at close of play in Tokyo today, as the index continues to be buoyed by renewed confidence in the government's economic policymaking.
Shinzo Abe's Liberal Democratic Party was given a majority backing according to a recent poll in the Yomiuri newspaper, while the head of the Bank of Japan has pledged his support by announcing that the central financial institution will follow the prime minister's recommendations by taking further action to help boost growth.
Masaaki Shirakawa said earlier that the organisation would be pursuing "aggressive" monetary easing in a bid to encourage expansion in the world's third-largest economy, which in turn will help to soften the yen, which has been prohibitively strong in forex markets and detrimental to exports.
At close of play in the Japanese capital city today, the Nikkei 225 rallied by 0.7 per cent – or 77.5 points – to an index value of 10879 points.
Learn about the Asian markets and find spread betting tips at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.