Nikkei Hits Seven Year High on BOJ Stimulus

Japanese shares continued to rally, jumping to a seven-year high on Tuesday after last week’s surprise stimulus move by the country’s central bank.

The Nikkei 225 index closed up 2.7% at 16,862.47 after being shut for a holiday on Monday.

The level marked the benchmark’s highest finish since October 2007.

That followed mixed trading on Wall Street where the S&P 500 and the Dow Jones hit intraday highs before closing lower.

Meanwhile, the yen continued to weaken against the dollar, with the US currency also touching a seven-year high of 114.21 against the yen at one point on Tuesday.

Shares in carmaker Honda were up 1.7%, despite the news that US authorities have opened a probe into whether the automaker failed to report deaths or injuries involving Takata air bags.

Investors will watch shares in Nissan on Wednesday after the firm reported a net profit of 237bn yen ($2.08bn; £1.3bn) for the six months to September, up 25% from the same period last year.

via BBC

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