Nikkei stocks rose Banks rides on Citi and yen weighs on the market
Nikkei stocks rose Banks rides on Citi and yen weighs on the market

On Tuesday Nikkei average of Japan saw an advancement of zero decimal four percent, as Citi group had done an excellent result which was more tan expectations and pushed banks up but the market remained weighed down by a strengthening yen.

As per views of analysts the market turnover is low with investors keeping them in the shell and biding their time to see the outcome of the group of 20 meeting scheduled for a later part of this week and the policy meeting of the Federal Reserve which will take place on November 2nd and 3rd.

Dollars are being sold off in recent weeks as there are expectations in the market that the Federal Reserve will be taking steps to ease the burden on economy. Japanese stocks also felt pressure with the appreciation of Yen.

Never the less the market has found solace with the expectations that measures taken by the Fed will increase liquidity flow in the financial markets which in turn will help the American economy.

According to media reports domestic company like Mitsubishi reported solid earnings which also boosted the market.

The chief fund manager of Ichiyoshi Investment Management, Mr. Mitsushige Akino stated that until and unless the Fed decision is out in the open the overall stock conditions will be hovering around this level. He added saying that even if moderate earnings continue to come, the market will get its support.

The benchmark Nikkei called N225 saw a rise of forty decimal nine six points and closed at nine thousand five hundred and thirty nine decimal four five points. The broader Topix called TOPX saw a rise of zero decimal four percent equivalent to three decimal two one points and closed at eight hundred and thirty three decimal seven three points.

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