7th December 2011
The Japanese Nikkei has peaked at a four-week high today (December 7th) after investors warmed to the notion that European leaders can get the region's financial problems in check.
It follows the announcement by French president Nicolas Sarkozy and German chancellor Angela Merkel that the largest members of the EU will do all they can to make the region more stable in the coming months.
"Policy-makers have been making progress recently and the market thinks the European Central Bank and euro-zone countries will work together on the crisis," Hideyuki Ishiguro, assistant manager of investment strategy at Okasan Securities, told Reuters.
The benchmark index rose by 1.7 per cent to stand at 8,722.17, while the broader Topix index was up 1.6 per cent to 749.63.
This latest development follows a slump on the Nikkei yesterday following an announcement by Standard & Poor that 15 eurozone countries could face downgrading in the coming weeks if action over the ongoing financial crisis is not forthcoming.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.