Nikkei rises in volatile trade after BOJ's easing; financials higher

viernes 29 de julio de 2016 03:07 GYT
 

* Nikkei falls 0.35 pct for week

* Topix volume, turnover highest since June 24

* Banks, insurers' gains offset real estate stocks' drops

By Ayai Tomisawa

TOKYO, July 29 (Reuters) - Tokyo stocks rose in volatile trade on Friday as banks and insurers gained, offsetting disappointment the Bank of Japan's policy easing fell short of investors' high expectations.

Financial stocks surged as investors took heart from the central bank's decision to hold off from cutting interest rates charged on a portion of excess reserves financial institutions park at the BOJ deeper into negative territory.

The Nikkei ended 0.6 percent higher to 16,569.27, recovering from an 1.8 percent drop to 16,174.35 after the BOJ's policy decision was released.

For the week, the Nikkei fell 0.35 percent.

The BOJ expanded monetary stimulus on Friday through a modest increase in purchases of exchange-rated funds, but maintained its base money target at 80 trillion yen ($775 billion) as well as the pace of purchases for other assets including Japanese government bonds.   Continuación...