Japan PPT announces intention to buy stocks; market soars

Discussion in 'Wall St. News' started by bond_trad3r, Feb 2, 2009.

  1. http://www.forbes.com/feeds/afx/2009/02/02/afx5998295.html

    BOJ unveils $11 billion stock buying scheme
    02.02.09, 10:44 PM EST

    By Hideyuki Sano and Leika Kihara

    TOKYO, Feb 3 (Reuters) - The Bank of Japan said it will buy up to $11 billion worth of shares held by Japanese banks to ease

    the pain from the global financial crisis, reviving a scheme

    launched earlier in the decade to head off a banking crisis...
  2. Didn't do shit in the 90s. What makes them think it will help now?
  3. The huge display size bid that crosses high through the market is usually a short.
  4. Doesn't seem to be doing a lot of soaring at the moment. Nikkei futs up just 0.3%.