April 4, 2013 / 5:05 PM / in 5 years

ADR REPORT-Japanese ADRs boosted by massive BOJ stimulus

NEW YORK, April 4 (Reuters) - U.S.-listed shares of Japanese companies jumped on Thursday after the Bank Of Japan unleashed the world’s most intense burst of monetary stimulus, promising to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent the yen reeling and bond yields to record lows.

U.S.-listed share of Toyota Motor rose 4.3 percent to $105.23, Honda Motor Co rose 4.8 percent to $38.97 and Sony Corp added 3 percent to $16.92. Mitsubishi UFJ Financial Group shares rose 7.6 percent to $6.24.

New Governor Haruhiko Kuroda committed the BOJ to open-ended asset buying and said the monetary base would nearly double to 270 trillion yen ($2.9 trillion) by the end of 2014 in a shock therapy to end two decades of stagnation.

In Japan, the Nikkei average jumped 2.2 percent to a two-week high in heavy trade.

The BNY Mellon index of leading American depositary receipts rose 0.1 percent while the BNY Mellon index of leading Asian ADRs jumped 2 percent. In comparison, the Standard & Poor’s 500 index rose 0.1 percent.

The BNY Mellon index of leading European ADRs fell 0.6 percent. European shares sold off as traders, underwhelmed by the lack of fresh economic stimulus measures from the European Central Bank, took profit on recent sectoral outperformers.

The BNY Mellon index of leading Latin American ADRs fell 0.1 percent.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below