September 21, 2016 / 4:46 AM / 2 years ago

REFILE-Japanese stocks jump after BOJ modifies policy, opens door to more ETF purchases

(Corrects day in first paragraph)

TOKYO, Sept 21 (Reuters) - Japanese stocks rallied in volatile trade on Wednesday after the Bank of Japan’s decision to modify its policy framework, which included an amendment to its purchases of exchange traded funds (ETFs).

The Nikkei swerved in and out of the red soon after the BOJ policy decision was announced and was last up more than 1 percent, while the Topix gained 1.7 percent after the central bank said 2.7 trillion of its ETF purchases will be linked to the index.

The BOJ said the maximum amount of each ETF purchase will take into account the total market value of ETFs and coverage of the indexes the ETF tracks.

Reporting by the Tokyo markets team; Editing by Shri Navaratnam

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