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
Brewin's Gutteridge: bonds with Ian Spreadbury

Brewin's Gutteridge: bonds with Ian Spreadbury

This week Brewin Dolphin's research head chats to Fidelity's Ian Spreadbury about the recent behaviour of interest rates and credit spreads.

Play Can tech advances explain the UK productivity puzzle?

Can tech advances explain the UK productivity puzzle?

Much of the productivity puzzle of the last eight years may be explained by a failure to capture new tech

Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Your Business: Cover Star Club

Small is beautiful: wealth firms still see value in less rich

Small is beautiful: wealth firms still see value in less rich

Latest statistics from findawealthmanager.com show that there are many firms who still service smaller clients.

Wealth Manager on Twitter