- Japan's Nikkei index has surged 7.7% after dropping 2.4% yesterday as global stocks rallied, boosted today by the prospect of corporate tax cuts and further stimulus in China.
- Prime Minister Shinzo Abe pledged to cut rates by 3.3 percentage points from 35% from next year and wants to eventually lower the number into the twenties, "bringing it to a level that compares favorably in the international context."
- Abe's plan comes as the impact of his radical economic reform over the past three years appears to be fading, with GDP falling 1.2% in Q2.
- Today's rise in stocks was the Nikkei's largest single-day gain since October 2008.
- ETFs: DXJ, EWJ, FXY, YCS, JGBS, DFJ, JGBD, DBJP, NKY, JYN, JOF, EZJ, JEQ, JPNL, DXJS, EWV, YCL, SCJ, HEWJ, JSC, ITF, JGBL, JPP, JGBT, QJPN, JGBB, FJP, JPMV, DXJT, DXJC, DXJR, JHDG, DXJH, DXJF, JDG, HGJP, JPN