Nikkei Records 10th Consecutive Weekly Gain -- City Index Asia
JCN Newswire / 2013年1月24日 11時37分
SINGAPORE, Jan 24, 2013 - (JCN Newswire) - City Index Asia -- Japan's Nikkei index rose an average of 2.86 per cent to record another weekly gain for the 10th consecutive week, the market's biggest winning streak since 1987. The gains have been attributed to exporters advancing on expectations that Japan's central bank will step up their attempts to ease monetary policy, causing the yen to weaken.
Japan's central bank recently made an agreement with the government to set an inflation target of two per cent, and both are likely to issue a joint statement confirming the news next week.
Nikkei's rise of 303.66 points represented the biggest one-day percentage gain in 22 months.
Japan's exporters are the biggest winners, with Toyota Motor Corp rising by 2.1 per cent, Honda edged up 3.2 per cent, while Panasonic Corp shot up 5.3 per cent.
Nikkei has risen by around 25 per cent over the last two months, mainly due to Prime Minister Shinzo Abe's call for further policy easing, which has subsequently caused the yen to weaken, to the advantage of the country's exporters.
About City Index
City Index is a leading global platform provider of margined Forex and CFD trading. As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide.
At City Index Asia, we offer tight fixed spreads on 28 of the most popular Forex pairs including EUR/USD, USD/JPY and GBP/USD. Our range of web, downloadable and advanced charts based trading platforms enable you to trade quickly and efficiently.
CFD trading, unlike other forms of traditional trading, enable you to go short so you can potentially profit from falling prices as well as rising markets.
This information is intended for general circulation only. It should not be construed as an investment advice or offer or solicitation to buy or sell any financial products.
CFDs and margined Forex contracts are leveraged products and may result in losses exceeding your initial outlay.
Copyright 2013 JCN Newswire. All rights reserved.