Tokyo stocks ended higher on Wednesday, as the yen slid against the U.S. dollar after a central bank deputy chief suggested a cautious stance over raising interest rates.
The 225-issue Nikkei Stock Average closed up 414.16 points, or 1.19 percent, from Tuesday at 35,089.62.
Meanwhile, the broader TOPIX index finished 55.00 points, or 2.26 percent, higher at 2,489.21.
Tokyo stocks opened sharply lower as investors locked in profits after the benchmark Nikkei rebounded in its largest-ever intraday gain the previous day, analysts said.
Market watchers here noted that buybacks in oversold sectors like banks helped the market pare losses, but it was the Bank of Japan (BOJ) deputy chief's comments that sent stocks firmly into positive territory, with the benchmark Nikkei climbing more than 3 percent at one point.
The U.S. dollar briefly rose to the upper 147 yen range after BOJ Deputy Governor Shinichi Uchida said the central bank will keep its policy interest rate at the current level to maintain monetary easing and will not raise it further when financial and capital markets are unstable.
(Source: Xinhua)
Related News:
Comment