Japan manufacturers’ mood jumps to 11-year high

Stability in currencies, global demand for electronics and cars, and capital expenditure were cited among factors behind bullish manufacturing sentiment. — Bloomberg

TOKYO: Confidence among Japanese manufacturers jumped in January to an 11-year high, the Reuters Tankan poll showed, highlighting corporate optimism driven by nearly two years of uninterrupted economic expansion and a buoyant stock market.

The monthly poll, which tracks the Bank of Japan’s (BoJ) closely-watched tankan quarterly survey, followed a key gauge of capital spending out last week showing Japan Inc’s readiness to spend some of their huge cash pile, potentially spurring a virtuous cycle of investment, consumption and growth.