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Nikkei up after Japan gets nod from G7 on stimulus

6:07 AM, May 13, 2013   |    comments
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BANGKOK (AP) - Japan's stock market jumped today after global finance leaders gave a seal of approval to the country's stimulus program and refrained from criticizing its weakening effect on the yen. Stocks were mixed elsewhere in Asia.

Finance leaders from the world's seven leading industrialized economies said at a meeting over the weekend in Britain that Japan's stimulus policies are aimed at boosting the domestic economy, which has been mired in stagnation since the 1990s.

One result has been a dramatic fall in the value of the yen, which helps the country's export industries by making products more affordable in overseas markets while increasing the value of repatriated profits.

Benchmark crude oil fell but hovered above $95 per barrel. The dollar gained against the euro and the yen.






Associated Press

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