LONDON (Sept 21): World stocks rose on Wednesday, led by a surge in bank shares, while the yen weakened after the Bank of Japan surprised markets by adopting a target for long-term interest rates. "This is positive for the equity market too, especially bank stocks," said Michael Moen, fixed income investment manager at Aberdeen Asset Management. "They've acknowledged the negative rate policy can hurt bank profits, and these measures they've announced today are in a way trying to offset some of that negative impact." The US dollar rose as high as 102.78 yen, but in early European trading had slipped back to 101.79 yen. Recent hawkish and dovish comments from Fed officials have stoked volatility in financial markets, although consensus is now centred on the Fed raising rates in December.

Source: The Edge Markets September 21, 2016 08:26 UTC