Total 27 issues out of 33 subsectors of the Tokyo Stock Exchange inclined, with shares in Land Transportation, Real Estate, Retail Trade, Oil & Coal Products, and Construction issues being notable gainers, whereas Nonferrous Metals, Mining, and Securities & Commodities Futures issues were notable losers.
Wrapping up a two-day policy meeting, the Bank of Japan revised down its estimate for growth and inflation forecasts. The central bank kept its ultra-loose monetary policy in place but added a fresh timeframe, saying the "extremely low" rates would be maintained "at least through around spring 2020".The Monetary Policy Board of the Bank of Japan on Thursday decided by a 7-2 majority to stick to its current level of historically low level of -0.1 percent of short term interest rates on the current accounts held by financial institutions at the Bank. The Bank also decided to purchase JGB's so that 10-year JGB yields will remain at around zero percent.
Zozo jumped 3.4% after the announcement that newly crowned Masters champion Tiger Woods will play in an event in Japan to be sponsored by the fashion shopping website operator.
Hitachi was up 1.9% after reports said it is planning to sell one of its core businesses Hitachi Chemical as the conglomerate restructures itself. Hitachi Chemical Co. shot up 9.77%.
Nissan was down 1.8% after the scandal-hit automaker issued a profit warning.
Kao Corp. climbed 5.3% the day after the daily goods manufacturer announced plans to buy back up to 7 million of its shares.
CURRENCY NEWS: The Japanese yen was down to the upper 111 yen-range against the dollar on Thursday. The dollar rose to 111.93 yen from 112.36 yen in New York on Wednesday.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
