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Money Daily Brief: Japan sees 'signs of recovery'

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– Updated 9:42 EDT (13:42 UTC)

Japan's cautious recovery: The Bank of Japan voted to keep its interest rate at an ultra-low 0.1 percent -- a sign that the central bank remains skeptical about the strength of the global upswing, even as the bank announced that the nation's economy is "showing signs of recovery." Comments by the bank's governor triggered a jump in the yen.

Shares jump: Most major Asian stock markets soared, allowing the MSCI Asia Pacific Index to reach a one-year high, following generally positive news in Asian and American manufacturing markets. The Shanghai Composite Index rose 2 percent as a senior government economist said China's annual growth rate may return to double digits in the fourth quarter.

Do-it-yourself fervor: Europe's biggest home improvement retailer, Kingfisher, announced 35 percent first-half profit gains, saying "DIY is cool again."


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