Japan's stock markets surged after a weak start Thursday as the Bank of Japan officially launched aggressive monetary easing steps, dpa reported. The benchmark Nikkei 225 Stock Average gained 272.34 points, or 2.2 per cent, to end at 12.634.54. The broader-based Topix index was down 27.33 points, or 2.7 per cent, at 1,037.76. Stocks bounced back after the Bank of Japan decided to start measures to achieve a 2-per-cent rate of inflation to pull the world's third-largest economy out of 15 years of deflation. Export-oriented issues got a boost as the yen also fell sharply against major currencies after the announcement. A weaker yen makes Japanese goods less expensive overseas and improves repatriated revenues. On currency markets at 3 pm (0600 GMT), the dollar traded at 94.60-62 yen, up from Wednesday's 5 pm quote of 93.42-43 yen. The euro was quoted at 121.38-41 yen, up from 119.60-62 yen late Wednesday, and at 1.2830-2832 dollars, up from 1.2801-2804 dollars.
