Nikkei Advances 1% As BoJ Policy 2-Day Meeting Starts

Hiruki Nakamura
18 Nov, 2015
New York City

Stock in Tokyo opened nearly 1% higher but the yen weakened as investors focused on the two-day policy meeting of Bank of Japan that began today. Real estate, financial services and automobile parts makers led the gainers in trading.

[R]4:30 PM Tokyo – Stock in Tokyo opened nearly 1% higher but the yen weakened as investors focused on the two-day policy meeting of Bank of Japan that began today. Real estate, financial services and automobile parts makers led the gainers in trading.[/R]

The Nikkei index edged up after the dollar strengthened and investors looked ahead to announcement from the Bank of Japan tomorrow at the end of 2-day meeting.

The Japanese regulators likely impose the penalty of more than 7 billion yen on Toshiba for its accounting scandal before the end of the month, the Nikkei news said.

Toray and Uniqlo agreed to extend strategic partnership for the next five years and target to sales of about 1 trillion yen.

The Nikkei 225 Stock Average edged up 18.55 to 19,649.18 and the broader Topix index added 0.42 to 1,586.53.

The yen weakened to 123.26 against a dollar.

Stocks in Review

Fast Retailing Co Ltd rose 0.2% to 47,480 yen after the communication services provider plans to offer bonds for as much as 370 billion yen for retail investors in December.

Treasure Factory Co., Ltd jumped 2.9% to 1,326 yen after the retail trader completed the repurchase of 117,400 shares worth about 149.92 million yen.

Toray Industries Inc slipped 1.5% to 1,124.50 yen after the diversified group and Uniqlo Co agreed to extend strategic partnership for five years and target about 1 trillion yen in sales.