The Japanese stock market has touched the highs of the last five years after, unexpectedly, the Japanese Central Bank (BOJ) announced a substantial stimulus plan that could put an end to two decades of economic stagnation. The Nikkei 225 Stock Average gained 3,4% to its August 2008 levels. Toyota Motor, the world's largest automaker, climbed 3,4% while Canon jumped 4%. The outlook of exporting companies has been improved by the slowdown of the Japanese currency which has lost ground against the main world currencies. Mizuho Financial Group led the financial stocks sector.
More broadly, the Asia Pacific index gained 0,8% to 134.72 as of 11am in Tokyo, equaling this week's losses. The ex Japan stock exchanges are bad. MSCI Asia Pacific Excluding Japan lost 0,9% to 463.84. Australia's S&P/ASX 200 fell 0,5%, South Korea's Kospi 1,2% and Singapore's Straits Times Index fell 0,2%. The New Zealand Stock Exchange (the NZX lost 0,3 percent) and Hong Kong's Hang Seng also fell by 1,5% on the day it reopened after a holiday period. The Chinese and Taiwanese markets were still closed for holidays.
