Monday, March 4, 2013
Nikkei Ends Higher On BOJ Easing Hopes
TOKYO (NQN)--Tokyo stocks continued to rise for the third straight trading day Monday, with the Nikkei Stock Average advancing 45.91 points, or 0.4%, to end the day at 11,652.29.
In the morning, Haruhiko Kuroda, the government's nominee for Bank of Japan chief, told a hearing in the lower house of the Diet that he would be willing to implement monetary easing measures. This pushed down the yen, prompting investors to buy stocks.
Gains in the Dow Jones industrial average Friday also helped to support sentiment in Tokyo. However, the benchmark index trimmed its gains after buying ran its course, due to a pause in the decline of the yen and bearish sentiment across Asian markets.