Nikkei hits 5-week high on robust Wall Street, sagging yen

jueves 14 de julio de 2016 22:43 GYT
 

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By Shinichi Saoshiro

TOKYO, July 15 (Reuters) - Japan's Nikkei share average rose to a five-week high on Friday and was on track for a fifth day of gains, lifted by a continuing record run on Wall Street and a sagging yen.

At midday, the Nikkei was up 1.2 percent at 16,575.63 after touching 16,581.62, its highest since June 10.

The index was headed for a gain of about 9.7 percent this week, during which fiscal and monetary stimulus hopes, receding Brexit worries and a sliding yen boosted risk sentiment.

"Upbeat U.S. stocks and the yen's weakening are continuing to push the Nikkei higher," said Masahiro Ichikawa, a senior strategist at Sumitomo Mitsui Asset Management in Tokyo. "The Bank of England may have gone against expectations by standing pat on monetary policy, but it did leave the door open for a rate cut in August and spared the markets from confusion."

The BOE wrong-footed investors by keeping interest rates on hold on Thursday, but held out the prospect of a stimulus package soon to help the economy cope with Britain's decision to leave the European Union.   Continuación...