Japanese stocks edge up on yen, fiscal stimulus hopes

By Noha Gad On May 16, 2016

Japanese stocks edged up on Monday as a weak yen and hopes for government fiscal stimulus underpinned sentiment, but gains were capped by worries about companies’ profit decline forecasts for this fiscal year.

On Monday, Prime Minister Shinzo Abe said that a majority of Group of Seven leaders agree on the need to deploy fiscal stimulus measures to boost global demand.

The Nikkei share average rose 0.3 percent to 16,466.40 points.

The broader Topix added 0.1 percent to 1,321.65 and the JPX-Nikkei Index 400 gained 0.3 percent to 11,961.84.

Source: Reuters