Business News

TOKYO, Nov 1 (APP/AFP): Tokyo shares closed higher Tuesday, reversing early losses on relief over a Bank of Japan policy meeting that ended largely as expected and better-than-expected Chinese factory data. The Bank of Japan delayed further easing measures but again pushed back the timeline for hitting its elusive inflation goal — a cornerstone of Prime Minister Shinzo Abe’s faltering growth blitz dubbed Abenomics. It now expects to hit two percent inflation by March 2019 — four years later than its original target and the latest in a string of delays. “The outcome was largely in line with market expectations, including the pushback of the timing for meeting the inflation target,” Hideyuki Suzuki, General Manager at SBI Securities Co in Tokyo, told Bloomberg News.