Japan’s Nikkei tops 13,000 for first time since 2008

Japan’s stock market has hit its highest level in almost five years, after a central bank stimulus plan raised hope of economic revival.The main Nikkei 225 stock index climbed as much as 4.7% to 13,225.62, its highest since August 2008, reported BBC.
The Bank of Japan said on Thursday it would double the country’s money supply to spur growth and halt falling prices.
The step was much bigger than expected and signalled a more aggressive approach towards driving growth.
After a day of heavy trading, the Nikkei closed up 1.58%, or 199.10 points, at 12,833.64.
The president of the World Bank, Jim Yong Kim, welcomed the Bank of Japan’s commitment to “doing what it takes” to restart growth.
“The critical thing is, a growing Japan is good for everybody. It is very important for the region, but it is important for the entire world,” he told the BBC. UNB

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