Japan Market recovers ground

The Japan share market closed higher after recovering early losses on Monday, 01 August 2016, as investors digested the Bank of Japan's effort on Friday to stimulate the economy. The BoJ on Friday said it would boost the size of its ETF purchase programme to 6.6 trillion yen from 3.3 trillion yen previously, a move that disappointed investors in currency and fixed income markets. But it also said it would conduct a comprehensive assessment of monetary policy at its September meeting, which has prompted market experts to speculate the central bank might ditch the reference to the two-year time frame for achieving their inflation target. Gainers were led by precision instrument, pharmaceutical and banking shares while brokerage, airline and marine transport issues succumbed to selling. The 225-issue Nikkei Stock Average rose 66.50 points, or 0.4%, to 16635.77. The broader Topix ndex of all First Section issues on the Tokyo Stock Exchange finished 0.91 points, or 0.07%, down at 1,321.83.

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