Tokyo stocks rallied on Wednesday with investors cheered by positive earnings from major firms as they digested the Bank of Japan’s tweaks to its ultra-loose monetary policy. Tokyo shares advanced further in afternoon trade as the yen slid against the dollar. The dollar fetched 112.03 yen in Asian afternoon trade, compared with 111.81 yen in New York late Tuesday and 111.05 yen in Tokyo on Monday. Several Japanese firms reported strong profits after Tuesday’s closing bell, attracting buyers on Wednesday. “Investors are also buying shares of firms showing strong earnings,” Horiuchi said.

Source: The Guardian August 01, 2018 06:33 UTC