News Column

Tokyo stocks hit five-month high after Fed policy meeting

June 19, 2014

TOKYO, June 19 (KUNA) -- Tokyo stocks rose for the third straight trading day on Thursday, sending a key index to the highest closing level in almost five months after US Federal Reserve's two-day policy meeting. The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) gained 245.36 points, or 1.62 percent, from Wednesday to 15,361.16, the highest closing since Jan. 29.

The broader Tokyo Stock Price Index, which includes all shares on the market's First Section on the TSE, was also up 19.89 points, or 1.59 percent, to 1,269.04.

The Fed decided to keep interest rates unchanged near zero after the Federal Open Market Committee meeting through Wednesday. The US central bank also decided to reduce another USD 10 billion from its monthly bond buyback program, bringing it down to USD 35 billion. In the currency markets, at 5 p.m. (0800 GMT), the dollar fetched JPY 101.75-78 against JPY 101.87-97 in New York and JPY 102.22-24 in Tokyo at 5 p.m. Wednesday. (end) mk.rk

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Source: Kuwait News Agency

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