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Nikkei Jumps Nearly 7% on Hopes of BOJ Buying; SoftBank Group Soars
Tuesday, 24 March 2020 11:14 WIB | MARKET UPDATE |Saham JepangNikkei 225

Japan™s share benchmark Nikkei climbed nearly 7% to its highest level in 1-1/2 weeks on Tuesday, outperforming regional peers, supported by hopes of buying by the Bank of Japan (BOJ) and public pension funds.

The Nikkei average gained 6.7% to 18,026.73, its highest since March 13, by the midday break. If sustained until the close, it would be the biggest daily rise for the Nikkei since November 2016.

The Nikkei™s volatility index, a measure of investors™ volatility expectations based on option pricing and considered to be a fear gauge, slid 16.3% to 45.60, further off a nine-year peak of 60.86 hit a week ago.

U.S S&P 500 stock futures last traded 3.5% higher and MSCI™s broadest index of Asia-Pacific shares outside Japan advanced 4.3% as the Federal Reserve™s promise of bottomless dollar funding eased strains in financial markets.

Source : Reuters

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