Japan’s Stock Market Hits Six Year High

apan’s main stock index has closed at its highest level for nearly six years, tracking overnight gains on Wall Street and buoyed by a weak yen.

The Nikkei 225 rose 1.8% to 15,727.12 points, the highest level since December 2007.

The index has surged nearly 50% this year after a series of aggressive moves by policymakers to help boost growth.

The measures have resulted in a fall in the yen’s value, lifting exports and boosting profits of exporters.

The Japanese currency has dipped nearly 25% against the US dollar since the start of this year.

That makes Japanese goods more affordable for foreign buyers and boosts profits of exporters when they repatriate their foreign earnings back home.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza