Nikkei gains on BoJ economic outlook upgrade

The Japan share market closed stronger after a volatile trade on Tuesday, 20 December 2016, aided by yen depreciation against greenback after the Bank of Japan upgraded its view of the world's third largest economy. Japanese equities started the day in the red, but they bounced back in afternoon trade as the Bank of Japan's decision led to a weakening of the yen -- a plus for Japanese shares. Japan's central bank said it would maintain its loose monetary policy, as expected, and added that the economy was "likely to turn to a moderate expansion". It also noted exports and industrial production were gathering steam, after saying they were "sluggish" in a November statement. It was the first time the bank has upgraded its assessment of the economy in more than a year. The benchmark Nikkei 225 index inclined 0.53%, or 102.93 points, to 19494.53. The broader Topix index of all first-section shares added 0.21%, or 3.30 points, to finish at 1,552.36.

Powered by Capital Market - Live News