Japan stocks surge after yen intervention

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SYDNEY (MarketWatch) — Tokyo-listed shares led gains in Asia on Thursday, with exporters getting a lift as Japan intervened in the foreign-exchange market to stem the yen’s recent rise.

Recovering from a lackluster start, the Nikkei Stock Average JP:NIK +0.90%  jumped 0.9%, taking back a portion of the 3.3% loss made over the past two trading sessions.

The gains came after the Japanese government intervened in the foreign-exchange markets, sending the yen sharply lower against all major currencies. The Bank of Japan said that the Ministry of Finance’s action “will contribute to stable price formation in the market.” See report on Japanese foreign-exchange intervention.

Full Story: Japan stocks surge after yen intervention – Asia Markets – MarketWatch.

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Kells Hetherington