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Japan stocks jump on BOJ candidate speculation

6:44 AM, Feb 25, 2013   |    comments
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HONG KONG (AP) - Aisian stock markets were mostly subdued today but the exception was Japan where stocks jumped on a report that the prime minister's pick for the next central bank governor will be a strong advocate of loose monetary policy aimed at reviving the moribund economy.

Kyodo News, citing several unnamed government sources, reported that Prime Minister Shinzo Abe is preparing to nominate Haruhiko Kuroda as the next governor of the Bank of Japan.

Kuroda is an Oxford-educated former vice minister of finance who is currently president of the Asian Development Bank. He is known as an advocate of aggressive monetary easing to overcome chronic deflation.

Japan's government wants to boost inflation to pull the economy out of its two-decade stagnation.

In energy markets, Benchmark crude oil fell to hover just above $93 a barrel. The dollar rose against the yen.






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