TOKYO (Sept 21): Japanese stocks rose nearly 2% on Wednesday after the Bank of Japan overhauled its monetary policy, potentially easing pressure on banks and insurers. The central bank also kept its policy rate at minus 0.1%, amid prior speculation it might take rates further into negative territory. It will try to keep the yield curve steep by maintaining long-term rates, which had previously sank deep into the negative, around zero percent. Both steps are expected to help financial institutions by not increasing the burden of negative short term rates, which has crimped banks' profits. Exporters also rose as the yen slumped against the dollar, in the wake of the BOJ decision.

Source: The Edge Markets September 21, 2016 06:45 UTC