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| Version 0 | Version 1 |
|---|---|
| Japan shares up on stimulus plan | Japan shares up on stimulus plan |
| (10 minutes later) | |
| Shares in Tokyo have risen on details of an economic stimulus plan the government is expected to pass. | Shares in Tokyo have risen on details of an economic stimulus plan the government is expected to pass. |
| Japan's ruling Liberal Democratic Party revealed details of bigger-than-expected spending of 15.4 trillion yen ($154bn; £105bn), or 3% of GDP. | |
| The spending contains measures to encourage the use of solar panels and fuel-efficient cars. | The spending contains measures to encourage the use of solar panels and fuel-efficient cars. |
| Japan's benchmark Nikkei 225 index closed at a three-month high, rising 3.74% to finish at 8,916.06. | Japan's benchmark Nikkei 225 index closed at a three-month high, rising 3.74% to finish at 8,916.06. |
| Shares in carmakers and solar power-related firms gained after details of the draft plan were released. | Shares in carmakers and solar power-related firms gained after details of the draft plan were released. |
| The market in Hong Kong also rose. The Hang Seng Index was up 2.3% at 14,808.78. | The market in Hong Kong also rose. The Hang Seng Index was up 2.3% at 14,808.78. |
| 'Temporary measures' | 'Temporary measures' |
| The package is set to create a financial safety net for temporary workers, boost struggling firms and support regional economies. | The package is set to create a financial safety net for temporary workers, boost struggling firms and support regional economies. |
| It has also been reported that there will be measures to support nursing and medical services, and support elderly care. | It has also been reported that there will be measures to support nursing and medical services, and support elderly care. |
| "The contents look like temporary measures to front-load demand, but they do not pay attention to increasing productivity on the supply side," said Masamichi Adachi, an economist at JP Morgan. | "The contents look like temporary measures to front-load demand, but they do not pay attention to increasing productivity on the supply side," said Masamichi Adachi, an economist at JP Morgan. |
| "This may contribute to GDP for a year. The consequences over the longer term are negative as we are piling up more of a fiscal burden. Bond issuance will go up from here on." | "This may contribute to GDP for a year. The consequences over the longer term are negative as we are piling up more of a fiscal burden. Bond issuance will go up from here on." |
| The package came out as figures showed Japan's machinery orders unexpectedly rose in February thanks to gains in the services sector. | The package came out as figures showed Japan's machinery orders unexpectedly rose in February thanks to gains in the services sector. |