Moreover, the BOJ unexpectedly boosted its annual target for expanding the monetary base to 80 trillion yen, or $724 billion, from 60 to 70 trillion yen, Bloomberg reports.

“The BOJ and GPIF announcements are delivering a double punch to push up stocks,” Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank Ltd., said in a Bloomberg article. “The BOJ came as a total surprise with almost nobody expecting action today.”

Deutsche X-trackers MSCI Japan Hedged Equity ETF

For more information on the Japanese markets, visit our Japan category.

 

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