An employee at a foreign exchange trading firm in Tokyo. Reuters
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
The Bank of Japan (BOJ) told investors for the first time on Thursday it would keep interest rates at super-low levels for at least one more year, seeking to dispel uncertainty over its commitment to ultra-loose policies as the economy comes under fresh pressure.
Tokyo and Shanghai stocks closed higher on Friday but trade lacked direction with several major markets closed for Easter holidays. In Japan, the benchmark Nikkei 225 index added 0.50 per cent, or 110.44 points, to 22,200.56, while the broader Topix index climbed 0.12 per cent, or 1.96 points, to 1,616.93.
The Bank of Japan (BOJ) kept monetary policy steady on Thursday but Governor Haruhiko Kuroda signalled readiness to ramp up stimulus as global risks cloud the economic outlook, joining US and European central banks in dropping hints of additional easing.
Thyssenkrupp has agreed to sell its elevators division to a consortium of Advent, Cinven and Germany’s RAG foundation for 17.2 billion euros ($18.7 billion). Analysts say the deal could be the world’s largest buyout in 2020.
Japan is adopting preventive measures to save economy from the impact of coronavirus on its economy. Japanese Prime Minister Shinzo Abe pledged on Friday to take policy steps as needed to prevent the coronavirus
The Khalifa Fund for Enterprise Development has announced the signing of a $100 million (Dhs368 million) agreement with the Ethiopian Ministry of Finance in Addis Ababa.