Japanese Economic Minister: We Want The Stock Market To Surge Another 17% By The End Of March

At this point, most are familiar with the new Japanese government's efforts to talk down the value of the Japanese yen in a bid to increase export competitiveness.

One of the side-effects of a weaker yen is higher stock prices, and the Japanese Nikkei has been on a tear since September as the exchange rate has weakened.

Now, it appears that the Japanese government is trying to talk up stock prices in the same way it's talking down the yen.

Take a look at what Japan's economy minister Akira Amari said on Saturday, via The Japan Times:

“It will be important to show our mettle and see the Nikkei reach the 13,000 mark by the end of the fiscal year (March 31),” Amari said in a speech... “We want to continue taking (new) steps to help stock prices rise” further, Amari stressed, referring to the core policies of the Liberal Democratic Party administration — the promotion of bold monetary easing, fiscal spending and greater private sector investment.

The 13,000 index target implies around 17 percent upside in February and March. The pace may sound ambitious, but then again, Japan is one of the hottest momentum trades in the world right now.

We won't get to see the market's response until tomorrow – the Tokyo Stock Exchange was closed today for a holiday.



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Market Data

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    NamePriceChange% Chg
    0.9326-0.0001-0.01%
    AUDUSD=X
    0.5556+0.0003+0.05%
    AUDGBP=X
    0.6753+0.0001+0.01%
    AUDEUR=X
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