Japan’s Nikkei leaps to an all-time high in a month

Today, Wednesday, Japan’s Nikkei index jumped to its highest closing level in a month after the Bank of Japan maintained its ultra-loose monetary policy and blue-chip tech stocks led the gains.

The Bank of Japan kept interest rates ultra-low, defying market expectations that it would ease its massive stimulus program as inflationary pressures mounted.

The Nikkei rose 2.5% to 26,791.12 points, its highest closing level since December 19. The index also posted its largest one-day increase since Nov. 11.

Fast Retailing, owner of the Uniqlo brand, rallied after taking losses earlier in the session and closed in rise of 2.74%. Shares of Tokyo Electron rose 1.71%.

All sub-indexes rose on the Tokyo Stock Exchange, except the banking sector index, which fell 0.19%.

Dai-ichi Life Holdings insurance fell 1.67% and was the worst performer performance of the Nikkei. Mitsubishi UFJ Financial fell 0.79%.

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