Japanese Nikkei jumps to 32 month high
The Japanese Nikkei 225 touched a 32-month high in trading as economic confidence increases in Japan.
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.
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