Japanese stocks rose supported by the Bank of Japan’s deputy governor, who confirmed the bank’s continued accommodative policy, in addition to the Japanese authorities taking further steps to open borders to foreign tourists as part of efforts to end Covid. -19″ restrictions.
Bank of Japan Deputy Governor Masazumi Wakatab stressed in statements released by Reuters that the central bank will continue monetary easing until inflation is sustained at 2%, noting that the current rise in energy and food prices is driven by external factors, so it is better to respond to it through measures other than monetary policy.
The Japanese government today announced an increase in the daily limit allowed for foreign tourists to enter the country from 10,000 to 20,000 in an attempt to accommodate more tourists from 98 countries and regions as of June 10, provided that arrivals are tested and isolated for three days after access.
On the data side, Japan’s PMI recorded its weakest gain in three months as the final reading dropped to 53.3 in May from 53.5 in April, under pressure from rising transport costs and commodity prices, as well as a slowdown in growth. . in China due to restrictions related to the Covid virus. -19″.
As a result of the session, the Nikkei index rose 0.65% to 27,457 points, while the broader TOPIX index rose 1.36% to 1938 points. While the Japanese currency fell 0.57% to 129.40 yen against its US counterpart at 10:03 sharp Beirut time.
Source: El Iktisad
