Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Nikkei surges to 23-month high on £72bn Japan rescue deal

Nikkei surges to 23-month high on £72bn Japan rescue deal

The new Japanese government has given the green light to a new 10.3 trillion yen (£72 billion) stimulus package sending the nation’s stockmarket soaring to a 23-month high.

Prime Minister Shizona Abe, who took office in December, expects the capital injection to add 2% on to economic growth and create in the region of 600,000 jobs.

The news is a silver lining for the nation, which finds itself in a recession after two successive quarters of contraction.

‘Unfortunately, the previous administration failed to work out how to boost growth and expand the economic pie,’ Abe said in an accompanying statement.

‘It is vital that we have an economic strategy that can create jobs and raise incomes to sustain growth.’

As the trading session drew to a close on the Japanese stockmarket, the Nikkei had jumped 149 points to 10,801 having hit 10,830 earlier in the session, its highest level since February 2011.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter