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Japan Stocks Surge to 7-year High

  • VOA News

A man looks at an electronic stock board of a securities firm in Tokyo, Nov. 4, 2014.

A man looks at an electronic stock board of a securities firm in Tokyo, Nov. 4, 2014.

Japanese stocks climbed to a seven-year high Tuesday, continuing momentum from last week, when Tokyo unexpectedly expanded economic stimulus measures.

The benchmark Nikkei index rose 2.7 percent, or nearly 450 points, to end at 16,862.

It was the first day the markets have been open since Friday, when the Nikkei surged 4.8 percent, its biggest daily gain in 18 months.

The rally was sparked by Tokyo's unexpected move to increase the money supply to help fight deflation.

The central bank decided to add an extra $182 billion to its current asset buying efforts, bringing the total to about $725 billion annually.

The Japanese economy has struggled since the government in April raised the consumption tax to deal with Japan's massive public debt.

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