Tokyo Stocks End Higher As Yen Buying On Trump Fizzles

Tokyo stocks end higher as yen buying on Trump fizzles

TOKYO, Feb 1, (Pakistan Point News - APP - 01st Feb, 2017 ) - Tokyo shares closed higher Wednesday on bargain-hunting after two days of losses and as a rise in the value of the Yen fizzled. The Nikkei tumbled on Monday and Tuesday with investors around the world spooked by US President Donald Trump's flurry of executive orders that have fuelled worries about the outlook for the global economy. Japanese authorities denied any Currency manipulation on their part and said the goal of their financial policy is to pull the nation out of years of on-off deflation and kickstart the fragile economy.

"It is a risk factor to have Trump saying this-and-that against a weaker yen," said Tetsuo Seshimo, a portfolio manager at Saison Asset Management. "But, weakening the currency through monetary easing hasn't been something specific to Japan. Others have been doing it including the US, so it's not like this remark will have material impact," he told Bloomberg news.