BOJ's $2.5 Billion ETF Boost Seen Having Little Impact on Stocks
Breaking Down the BOJ's Policy Decision
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Is that it?
Stock investors’ delight after the BOJ said Friday it would buy more exchange-traded funds quickly turned to disappointment at the size of the program: at 300 billion yen ($2.5 billion), it’s just a 10th of the size of the bank’s current ETF efforts. Not only that, it’s intended to offset the market impact as the central bank resumes selling stocks it purchased from financial institutions from April. The benchmark Topix index jumped and then tumbled, while the yen gained against the dollar.