Thursday, 22 June 2006

Japanese stocks surge

Japan has not been an emerging economy for many years now, but for the past few weeks -- some might say months -- its stock market has been behaving almost like that in an emerging one. Today, the Nikkei 225 jumped 3.4 percent to close at 15,135.69.

The recent economic news has been quite positive. While a government survey released yesterday found that optimism among Japan's largest manufacturers slipped in the second quarter, today, the Ministry of Economy, Trade and Industry reported that its all-industries index rose 1.3 percent in April from March and the Ministry of Finance reported that Japan's trade surplus soared on the back of an 18.9 percent rise in exports and a 17.9 percent rise in imports.

An imminent but gradual rise in Japan's interest rates now looks likely.

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