Japan PPT announces intention to buy stocks; market soars

[bond_trad3r]

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
pic

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...

 

[short&naked]

Quote from bond_trad3r:

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
pic

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...

Didn't do shit in the 90s. What makes them think it will help now?

 

[NY0BScalper]

The huge display size bid that crosses high through the market is usually a short.

 

[dcraig]

Doesn't seem to be doing a lot of soaring at the moment. Nikkei futs up just 0.3%.