OSAKA: The Bank of Japan on Tuesday injected two trillion yen ($24.67 billion) into the money market as it continued its emergency fund provision following a devastating earthquake and tsunami.Tokyo stocks jumped 3.61 percent early Tuesday as traders returned from a public holiday and as the Bank of Japan renewed its emergency fund provision to soothe jittery markets.
The key Nikkei index added 332.30 points to 9,539.05 in early trading. The broader Topix index was up 3.84 percent, or 31.85 points, at 862.24.
Sentiment was boosted after the central bank on Tuesday injected two trillion yen ($24.67 billion) into the money market as it continued its emergency fund provision following a devastating earthquake and tsunami.
It has now injected a total of 39 trillion yen to soothe markets and ease concerns about the ability of financial institutions to meet demand for funds.
In early trade the yen was at 81.07 to the dollar, flat from overnight.
Japan and its G7 economic allies on Friday intervened jointly in world currency markets for the first time in a decade to calm turmoil sparked by the huge earthquake of March 11 and an ensuing nuclear crisis.
The announcement that the Japanese, US, eurozone, Canadian and British monetary authorities would take concerted action pushed down the yen from the post World War II dollar high it struck following the twin natural disasters.
Last week the greenback had tumbled below 77 yen, a move Tokyo blamed on speculators betting on an influx of capital by Japanese companies to aid reconstruction efforts.
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