Tokyo: Nikkei climbs on report PM Abe to announce 28t yen stimulus package
[TOKYO] Japan's Nikkei ended higher on Wednesday, lifted by reports that Prime Minister Shinzo Abe is to announce a 28 trillion yen (S$360 billion) economic stimulus package.
The Nikkei ended up 1.7 per cent at 16,664.82. It had jumped as much as 2.7 per cent to 16,821.43 in early afternoon trade.
Japanese Prime Minister Shinzo Abe said on Wednesday the government would compile a stimulus package of more than US$265 billion to reflate the flagging economy, according to media reports, although it unclear how much will be spent to directly boost growth.
The package, which exceeds initial estimates of around 20 trillion yen, will include 13 trillion yen in "fiscal measures,"Jiji reported.
The broader Topix gained 1.1 per cent to 1,321.67 and the JPX-Nikkei Index 400 added 1.2 per cent to 11,887.23.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks end week in the red; STI down 0.1%
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%
Stocks to watch: DBS, KIT, Clint, Elite Commercial Reit
Europe: Shares ease after Federal Reserve decision, mixed earnings