Asian Market Mixed, Japan Nikkei Down Away

Japan’s benchmark Stock index Nikkei jumped Friday as the Japan currency Yen continuously retreat against the Dollar, and the investors cheered the new government’s plans to boost the economy. Other Asian Stock markets were mixed.

Even Lucas of IG markets in Melbourne said he expects to see surges in Japan’s Nikkei 225 index after Japanese Finance Minister Yasutoshi Nishimura commented that the Yen would fall further. In Tokyo Nikkei rose 2% to 10,832.48.

The recent turn down in the Yen value against the Dollar and drops against other major currencies have been driven by expectations that Japan’s central bank will try to engineer inflation by increasing the amount of money in circulation.

South koria’s kospi fell amid fears that the exporters could be slammed by Japan’s dropping Yen, which makes Japanese products less expensive overseas. The benchmark fell 1.1% to 1943.82.
Hongkong market benchmark Hangseng lost 0.2% to 23,550.21 and the Australia market benchmark S&P/ASX 200 rose 0.4% to 4,829.40.

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