The Nikkei 225 index closed higher in trading earlier today (December 18th) on hopes the new Japanese prime minister will be pressing the country's central bank to implement further monetary easing in a bid to stimulate growth in the world's third-largest economy.
Bloomberg reports that Shinzo Abe – the Liberal Democratic Party leader who returned to power after the general election on December 16th – is likely to press the Bank of Japan to print "unlimited" yen at a hotly-anticipated meeting with the financial institution starting tomorrow.
The summit will last for two days and is hoped to turn the ailing country's financials around, as the nation has been suffering as a result of a strong currency, making its exports less attractive to foreign markets.
At close of play in Tokyo today, the Nikkei 225 rose by 0.9 per cent to an index value of 9923 points.
The Nikkei has surged by 17 per cent in 2012 and looks set to reverse two years of losses as the Bank of Japan joins other central banks to spur economic growth.
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