TOKYO (Reuters) – Japan’s Nikkei share average rose on Friday after the European Central Bank announced it would avoid raising rates until mid-2019, but chip-related stocks tumbled as a brokerage slashed the target price of Tokyo Electron.
The market had little reaction to the outcome of a Bank of Japan meeting, which kept its short-term interest rate target at minus 0.1 percent, as widely expected, and a pledge to guide 10-year government bond yields around zero percent.
Traders - Investors - Trade - War - US
Traders said that investors were cautious about a global trade war, as U.S. President Donald Trump gets ready to impose “pretty significant” tariffs on Chinese goods.
The Nikkei ended 0.5 percent higher at 22,851.75.
ECB - Program - Interest - Rate - Hike
The ECB announced it would end its bond-purchase program at the year-end but signaled that any interest rate hike was still distant.
“Investors were relieved that there is no imminent tightening in Europe, the day after they were spooked by the U.S. Federal Reserve’s hawkish stance,” said Nobuhiko Kuramochi, a strategist at Mizuho Securities.
Week - Benchmark - Index - Percent
For the week, the benchmark index rose 0.7 percent.
Drugmakers were steady, with...
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