ADR REPORT-Foreign shares rise as weaker yen boosts Japan's exporters

NEW YORK Thu Jan 17, 2013 4:39pm EST

NEW YORK Jan 17 (Reuters) - U.S.-listed shares of foreign companies rose on Thursday, led by Japanese exporters as the yen plunged to a more than 2-1/2-year low against the dollar and an 18-month low versus the euro.

Citing sources familiar with the central bank's thinking, Reuters reported on Thursday that the BoJ next week will consider removing the 0.1 percent floor on short-term interest rates and commit to open-ended asset buying until the 2 percent inflation target is reached.

The BNY Mellon index of leading Asian ADRs rose 0.9 percent.

The BNY Mellon index of leading American depositary receipts rose 0.8 percent, while the Standard & Poor's 500 index gained 0.6 percent.

The BNY Mellon index of leading European ADRs rose 0.8 percent while the BNY Mellon index of leading Latin American ADRs rose 0.5 percent.

The yen has been falling ahead of a Bank of Japan meeting next week at which policymakers are widely expected to adopt a 2 percent inflation target and perhaps extend the current asset purchase program.

U.S.-listed shares of Toyota Motor rose 2.3 percent to $96.78 and Canon Inc rose 1.9 percent to $37.80.

U.S.-traded shares of Honda Motor also rose 2.1 percent to $38.54 and Sony Corp shares jumped 6.3 percent to $11.91.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video