Japan Stocks Rise as Topix Pares Worst Annual Start Since 2009
- Murata Manufacturing posts best gain since 1998 on profit
- Banks lead losses after BOJ moves to negative interest rate
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Japanese stocks rose for a second day after the Bank of Japan’s unexpected boost to stimulus, paring the Topix index’s worst start to a year since 2009. Major lenders fell again following the central bank’s decision to start charging for some of their deposits held at the institution.
The Topix added 2.1 percent to 1,462.67 at the close in Tokyo, after rising on Friday amid wild swings as investors assessed the BOJ’s plan to introduce a negative interest rate on some deposits. The Nikkei 225 Stock Average gained 2 percent to 17,865.23. The yen traded at 121.32 per dollar after slumping 1.9 percent on Friday.