TOKYO – Japan’s Nikkei 225 Stock Average rose for a second day, climbing above the 15,000 level for the first time since May 22nd as the yen weakened across the board pushing rates above the 100 mark against the dollar.
Gaining strength from the new Fed Chief’s positive remarks on the continuation of the quantitative easing program. In a testimony to the Senate Banking Committee yesterday in Washington, Yellen said that “It is important not to remove support, especially when the recovery is fragile and the tools available to monetary policy, should the economy falter, are limited given that short term interest rates are at zero.”
Nikkei closed 1.95% higher to 15,165.95 +289.51 points on the day. Hong Kong Hang Seng rose 1.69 % +383.00 points to 23,032.15. Shanghai Shenzhen CSI 300 rose 2.01%, +46.23 points to 2,350.73.
Chart: WorldWideMarkets Alpha Trader