After a long run of disappointing investors, Haruhiko Kuroda got it right, if the Japanese stock market is any guide.
Shares in Tokyo posted their biggest gain since July after the Bank of Japan adjusted its monetary policy. Banks surged as Kuroda’s board refrained from making deeper cuts to negative interest rates. Exporters advanced as the yen weakened. The Topix index outperformed the Nikkei 225 Stock Average as the central bank said it was going to buy more exchange-traded funds tracking the broader gauge.