Nikkei hits 2-week closing low after BOJ eases

Tue Oct 30, 2012 2:10am EDT

TOKYO, Oct 30 (Reuters) - Japan's Nikkei share average fell
1 percent to a two-week closing low on Tuesday after the Bank of
Japan eased monetary policy by increasing the size of its asset
buying and lending programme by 11 trillion yen ($138 billion),
largely as expected.
    The Nikkei closed down 87.36 points at 8,841.98
after trading 0.4 percent higher on the day before the BOJ
announcement, which came shortly before the market close.
Tuesday's fall took the index below its 25-day moving average at
8,843.70.
    "I think it was in line with expectations, the market's
reaction suggests it didn't exceed expectations, particularly
because people spent the day pushing the index higher," said
Hideyuki Ishiguro, a senior strategist at Okasan Securities.
    The broader Topix lost 0.9 percent to 733.46.
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Comments (1)
mick68 wrote:
The endgame is here when immediately after printing 138bn fiat, the market drops.

The US will be at this point within one or two QE’s.

Oct 30, 2012 2:20am EDT  --  Report as abuse
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