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Tokyo's stock index closes up 3.13pc: Forex

Tokyo: Tokyo stocks jumped 3.13 per cent by the close Tuesday after the Bank of Japan (BoJ) held off expanding its asset-buying programme.

The Nikkei-225 index soared 450.13 points to 14,843.24, scoring its biggest one-day points gain since August. The broader Topix index of all first-section issues was up 2.68 per cent, or 31.95 points, to 1,224.00.

However, it also decided to double the amount available under loan schemes to banks in a bid to stimulate lending to firms and to finance growth-stoking projects such as environmental research and natural resources development.

The move sent the yen tumbling in forex markets, a plus for shares of Japanese exporters.

The unit changed hands at 102.66 yen in afternoon trade, up from around 101.95 yen before the BoJ decision.

In share trading exporters benefitted from the sudden fall of the yen, with Sony closing up 3.60 per cent at 1,780 yen and chip component maker Kyocera up 3.73 per cent at 4,611 yen.

 

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