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Beverly Chandler, Opalesque London: The latest surge from the Japanese stockmarket reveals its sixth consecutive month of gains in February, with a 3.8% return over the month. Masashi Oda, Chief Investment Officer, SuMi TRUST commented: "A key positive driver was the nomination of Mr Haruhiko Kuroda, currently the President of the Asian Development Bank and former Vice Minister of Finance for International Affairs, to be the next Governor of the Bank of Japan. This followed the decision in the early part of the month of the present Governor, Mr Masaaki Shirakawa, to step down before the scheduled end of his five-year term. Prime Minister Abe has called on the BOJ to ease policy and boost stimulus measures to revive the economy. Mr Kuroda is seen as a strong supporter of such measures, having advocated that the BOJ should adopt an inflation target and pursue a policy of aggressive monetary easing in order to attempt to reverse many years of deflation."
Oda also believes that another key positive driver, which has been seen by investors as further evidence of Prime Minister Abe’s strong commitment to boosting economic growth, stems from his meeting with President Obama at which an agreement was reached on talks which could set the stage for Japan to join negotiations on the Trans-Pacific Partnership, a U.S.-led regional free trade agreement. Abe had undertaken to consider joining the pact only if no prior commitment to eliminate all tariffs was required, and now that the o...................... To view our full article Click here
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