Nikkei rockets +4.5% as Abe confirms stimulus package

The Japanese stocks extend their bullish momentum and lead the Asian rally this Monday, as the domestic equities received fresh impetus after Japan’s PM Shinzo Abe confirmed that he has ordered the government to compile a fresh economic stimulus package, in yet another effort to revive growth in the world’s second largest economy.

Towards closing hours, the Japanese benchmark index, the Nikkei 225 is seen sharply accelerating above 16,800 mark, up +4.65% on the day.

The Japanese stocks rebounded this session, taking the positive lead from reports of Japan PM’s victory at election the upper house of country’s parliament, while headlines crossing the wires about the stimulus package also kept the buying interest intact around the Nikkei.