Business News

TOKYO, (APP/AFP) – Tokyo stocks opened higher on Thursday,
following gains on Wall Street where technology companies lifted the Dow
and S&P 500 to fresh records.
Tokyo’s leading indexes also advanced on a weaker yen — good news
for exporters — while investors await promised extra economic stimulus
from the government.
Prime Minister Shinzo Abe’s government is preparing to compile a
stimulus package of at least 20 trillion yen ($186 billion), about double the size initially expected, Kyodo News agency reported.
The government wants to help the world’s number-three economy emerge
from deflation and fend off any negative effects from Britain’s decision to leave the EU, Kyodo said, citing unnamed sources.
“We have better corporate earnings, likely bold fiscal stimulus in
Japan, zero interest rates helping to absorb every macro shock we hear
about and broad monetary easing,” Chris Weston, chief market strategist
at IG Ltd in Melbourne, told Bloomberg News.