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Rabu, 18 Desember 2013

Tokyo Stocks Up 1.54% by Break

AFP (18/12) -- Tokyo stocks jumped 1.54 percent Wednesday morning as the yen weakened ahead of the US Federal Reserve's decision on a timeline for scaling back its stimulus programme.
The benchmark Nikkei 225 index added 235.96 points to 15,514.59 by the break, while the Topix index of all first-section shares rose 1.00 percent, or 12.27 points, to 1,244.58.
Later Wednesday, Fed policymakers will wrap up a two-day meeting after debating whether the world's biggest economy is strong enough to immediately scale back its $85 billion a month quantitative-easing (QE) programme.
Analysts are split on whether the Fed will act right away or wait until early in the new year as fourth-quarter data flows in.
Markets have been see-sawing ahead of a decision on the stimulus, which has been credited with buoying global equity markets.
With US November housing starts figures also set to be released Wednesday, dealers said they were keeping a close eye on any statements from Fed chief Ben Bernanke about US economic conditions and any Fed move on interest rates.
Shortly before the Tokyo market opened Wednesday, data showed Japan posted a record November trade deficit, underscoring how soaring energy bills have weighed on the country's trade balance despite a jump in exports.
Government figures showed a 35.1 percent on-year rise to a 1.29 trillion yen ($12.6 billion) deficit, the worst result for November and the 17th straight month of shortfall.
However, exports last month rose 18.4 percent, backed by robust shipments of automobiles to key markets including the United States and China.