Japan Shares End Higher Amid BOJ’s Bond Buying Plan; Banks Drop
- Topix extends gains for sixth day to highest since February
- Prime Minister Shinzo Abe to meet Trump Thursday in New York
Unfixed Debt Will Keep Japan Stagnant, Says Britton
Shares in Tokyo rose for a sixth day after the Bank of Japan’s decision to buy bonds maturing between one to five years lifted sentiment by sending the yen lower.
The Topix index rose, erasing an earlier loss of as much as 0.6 percent, with exporters of electric appliance makers boosting the gauge. Banks paced declines, retreating from recent gains spurred by soaring bond yields following Donald Trump’s U.S. election victory. After tumbling to a 16-month low earlier this year, the benchmark stock gauge has been rebounding, encouraged by a weaker yen and signs of economic recovery in both the U.S. and Japan. The Topix was 19 percent higher compared with a low in February, buoyed by banks and exporters.