Nikkei rises 2.2 pct on BOJ's bold easing; reflation stocks gain

Thu Apr 4, 2013 2:04am EDT

TOKYO, April 4 (Reuters) - Japan's Nikkei average rose 2.2
percent on Thursday after the Bank Of Japan announced a sweeping
monetary expansion campaign that will include heavy investment
in REITs and ETFs, boosting reflationary stocks such as real
estate firms and banks.
    The Nikkei rose 272.34 points to 12,634.54,
reversing from early losses which were prompted by concerns over
the U.S. economic recovery. The Topix jumped 2.7 percent
to 1,037.76.
    The central bank said it will bring forward open-ended asset
buying and extend the duration of government bonds it buys in
its easing program, as expected.
    It also said that it will increase purchases of Japan
real-estate investment trusts (REITs) by 30 billion yen ($323
million) per year and increase purchase of exchange traded funds
(ETFs) by 1 trillion yen per year.
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