By Ronnie HaruiThe Nikkei Stock Average appears headed for a fourth straight day of near 34-year highs, underpinned by expectations for the Bank of Japan to maintain its super-loose accommodative monetary policy stance and the weakness of the Japanese yen. Japan's benchmark index was recently 1.2% higher at 35474.57, on track to reach the highest closing level since February 1990, after hitting near 34-year highs for the past three days. Yen weakness typically benefits the overseas earnings of Japanese exporters when repatriated back to Japan. Progress concerning corporate governance has quickened with the Tokyo Stock Exchange's policy initiative during the past year, and there have been market-friendly changes in management behavior, Lazard said. Morgan Stanley MUFG Securities notes that the Tokyo Stock Exchange plans to release a list of companies that have disclosed capital-efficiency measures or have such measures under consideration next week.

Source: Wall Street Journal January 12, 2024 16:37 UTC