Powered by Blogger.

Tokyo shares

okyo stocks surged more than 4.0 percent Tuesday, helped by signs of progress in containing Japan's post-quake nuclear crisis and as the Bank of Japan pumped nearly US$25 billion more into the market.

But dealers warned any fragile optimism would quickly erode on signs of a setback in the delicate operations to restore power to overheating reactors at the Fukushima atomic plant, which was crippled by a March 11 quake and tsunami.

The yen was steady after Japan and its G7 allies on Friday intervened jointly in currency markets for the first time in a decade to calm turmoil sparked by the country's worst natural disaster in nearly a century.

Japanese stocks extended Friday's bounce as investors returned from a long weekend. Monday was a public holiday.

"Foreign investors were completely thrown off by Japan's nuclear power plant problems but there is still room for them to buy back the undervalued shares," said Masayoshi Yano, a senior market analyst at Meiwa Securities. 

The key Nikkei share index closed 4.36 percent higher, adding 401.57 points to 9,608.32. The broader Topix index added 4.54 percent, or 37.74 points, to 868.13.

Sentiment was boosted after the central bank on Tuesday injected two trillion yen (US$24.67 billion) into the money market as it continued an aggressive emergency fund operation following the earthquake and tsunami.

It has now injected a total of 39 trillion yen in such funds to ease concerns about the ability of financial institutions to meet spiking demand for funds, particularly those in quake-hit areas.

15:22 | |

This entry was posted on 15:22 You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

 

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)
Blogger Tips and TricksLatest Tips And TricksBlogger Tricks
1 Share/Bookmark

Labels

Blogger Tips and TricksLatest Tips And TricksBlogger Tricks