Tokyo stocks on track to rise next week

Tokyo shares are on track to extend their rally next week after hitting a near three-year high on Friday as a steep decline in the yen provides further support to buyers, analysts said.

The benchmark Nikkei 225 index added 1.03 percent, or 111.73 points, to end the week at 10,913.30, its highest since April 2010, while the Topix index of all first-section shares finished up 1.42 percent, or 12.75 points, at 911.44.

"Shares have been rallying in accordance with the yen's declines, and that will likely continue next week, with investors also closely watching the Bank of Japan's policy board meetings" on Monday and Tuesday, said Mizuho Securities' strategist Masahiro Yamaguchi.

On Friday, the Tokyo bourse surged 2.86 percent after a steep fall in the yen following reports that the Bank of Japan will launch fresh easing measures.

BoJ governor Masaaki Shirakawa met Finance Minister Taro Aso and economic revitalisation Minister Akira Amari on Friday over an accord on setting a two-percent inflation target to tackle the deflation that has haunted Japan's economy for years.

The reports and high-profile meeting came as the dollar again topped the 90-yen level in forex trading on Friday, with upbeat US and Chinese economic data also supporting stocks.

A weakening yen tends to boost the local stock market because it makes Japanese exporters' products more competitive overseas.

"The rally this week has already factored in the reports on the BoJ's additional easing, and the next focus is on whether there is a relief, disappointment, or a surprise in the actual BoJ decision," Yamaguchi said.

-- Dow Jones Newswires contributed to this story. --

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2506-0.0003-0.02%
    USDSGD=X
    1.7306+0.0024+0.14%
    EURSGD=X
    2.1054+0.0041+0.20%
    GBPSGD=X
    81.5555-0.1808-0.22%
    SGDJPY=X
    6.2000+0.0012+0.02%
    SGDHKD=X
    2.5907-0.001-0.04%
    SGDMYR=X
    9,141.0674-1.9502-0.02%
    SGDIDR=X
    4.9721-0.0008-0.02%
    SGDCNY=X
    1.1722+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,301.20-2.30-0.18%
    GCM14.CMX
    19.56-0.07-0.38%
    SIK14.CMX
    90.83-1.04-1.14%
    ^XAU
    3.04+0.01+0.41%
    HGK14.CMX
    104.00+0.24+0.23%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65+0.04
    ^FVX
    2.64+0.01
    ^TNX
    3.45-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1170.0000.00%
    B22.SI
    0.485+0.025+5.43%
    5GJ.SI
    2.26+0.080+3.67%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.6050.0000.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.20+0.034+20.48%
    5WD.SI
    0.18+0.020+12.50%
    T16.SI
    0.215+0.015+7.50%
    5UE.SI
    0.485+0.025+5.43%
    5GJ.SI
    0.68+0.035+5.43%
    5DP.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.112-0.008-6.67%
    5RC.SI
    0.19-0.010-5.00%
    567.SI
    0.22-0.010-4.35%
    D6U.SI
    0.59-0.020-3.28%
    544.SI
    0.13-0.004-2.99%
    B32.SI