Japan’s Nikkei up the Most in Six Years

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Japan’s Nikkei up the Most in Six Years
Japan’s Nikkei up the Most in Six Years

Japan’s Nikkei up the Most in Six Years

Japanese exports are working fine and that is visible in its stock market as the Nikkei Stock Average extended its six-year high. Thus, pushing comfortably above the psychologically important 16,000 mark. The stock is hitting new heights and expected do even better in the next year. This is an outcome of excellent measures taken by Prime Minister Shinzo Abe with his stimulus.

According to market observers, the Japanese economy and stock market got a boost after two upbeat reports came in. The reports state that the Japanese economy will get a further injection of extra booster when the Prime Minister Shinzo Abe would announce a new reform agenda in June, which would include measures to bring more women into work.

Some reports on the other hand say that the country is not yet clear about the measures. According to the minutes of the Bank of Japan’s Nov. 20-21 board meeting which were released Wednesday show that not all members were convinced that Japan’s growth was on a long-term upward trend. However, the latest trends show that it is indeed on the right track.

Chinese Stocks Drop despite the Injection of 50 Billion Dollars into the Market by the Government

Though the neighboring country Japan got a boosted stock performance, China’s Shanghai Composite dropped 1.1% to 2,082.53. Thus, there was an end to a three-day recovery. This happened as investors reacted negatively to a lack of additional cash injections from the central bank. Observers believe that the last week’s decision to calm a spike in interbank lending rates that has eroded investor confidence does not seem to work.

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European Stocks Rose on Thursday

On the Thursday’s trading European stocks rose to a great extent as the Stoxx Europe 600 Index climbed for a sixth day. A major boost came from U.S. jobless data wherein the claims for employment dropped more than forecast. This was further enhanced by reopening of the market after the Christmas holiday. Additionally, the European stocks also got a boost from upward movement in the Asian market.

The major gainer was Debenhams Plc which gained 1.4 percent. The company got a boost after news came that the second-largest department-store chain in the UK may fire its chief financial officer. There was a slight gain for the Stoxx 600 which went up 0.5 percent to 325.87 at 8:21 a.m. in London and helped European stocks complete their biggest five-day rally since July this year.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com