Nikkei 225 Crosses 70,000 Intraday, Closes with Tepid Gains After Bank of Japan Hikes Rates
Japanese equities closed with mild gains on Tuesday after crossing the 70,000 mark for the first time intraday, as investors cheered the rate hike by the central bank.The Nikkei 225 closed up 87.00 points or 0.13% close at 69,404.50.The Bank of Japan raised its benchmark policy rate to 1.0% from 0.75% at the conclusion of its monetary policy meeting on Tuesday. The decision, approved by a 7-1 vote, was in line with market expectations.The central bank said Japan's economy continues to recover moderately, although geopolitical uncertainties remain risks to the outlook.On the corporate side, Internet Initiative Japan (TYO:3774) completed payment for the disposal of 68,111 treasury shares under its restricted stock remuneration plan. The shares were disposed of at 3,064 yen each, totaling 208.7 million yen.Also, Fujitsu (TYO:6702) Chairman Hidenori Furuta resigned on Tuesday following "woman-related inappropriate conduct," Reuters reported Tuesday, citing a company spokesperson.
