Japanese Index Nikkei ended up on a higher note
Encouraged by financial shares when a report said that most major Asian banks may be exempt from planned new global rules and this news took the Japanese Nikkei to end up on a higher note. The Japanese equities surprisingly outperformed other markets such as the United States, Hong Kong and Shanghai as a relatively large stop-loss and options-related purchases from domestic and foreign players were triggered.
Ryosuke Okazaki, chief investment officer at ITC Investment Partners said: "Many players who bet the Nikkei would drop are being forced to buy back Japanese shares. It appears that even Japanese institutional investors are looking for chances to buy to meet their targets for October-December as they are believed to have kept their positions uncovered because domestic shares have underperformed for a while."
Japanese stock index Nikkei closed up 1.4 percent at 9,830.52.
Encouraged by financial shares when a report said that most major Asian banks may be exempt from planned new global rules and this news took the Japanese Nikkei to end up on a higher note. The Japanese equities surprisingly outperformed other markets such as the United States, Hong Kong and Shanghai as a relatively large stop-loss and options-related purchases from domestic and foreign players were triggered.
Ryosuke Okazaki, chief investment officer at ITC Investment Partners said: "Many players who bet the Nikkei would drop are being forced to buy back Japanese shares. It appears that even Japanese institutional investors are looking for chances to buy to meet their targets for October-December as they are believed to have kept their positions uncovered because domestic shares have underperformed for a while."
Japanese stock index Nikkei closed up 1.4 percent at 9,830.52.