Nikkei hits seven-year high

Japan's Nikkei index closed at a seven-year peak this morning, following a significant purchase of ETFs by the Bank of Japan after Monday's trading ended.

It rose 2% to above 17,000 points for the first time since October 2007, outperforming the wider region. The BoJ purchased the ¥38bn of ETFs as part of its recent stimulus package. It surprised markets in October by unveiling a significant extension of its quantitative easing programme, increasing the monetary base to ¥80trn (£454bn) a year. Meanwhile, the Japanese current account balance remained in surplus for a third month running in September, helping to bolster shares. There was also speculation Prime Minister Shinzo Abe will delay a planned 10% sales tax rise and instead call...