Daily News

3. NY stocks rise on Bank of Japan stimulus

New York stock prices climbed higher on the additional stimulus being provided by the Bank of Japan.

The Dow Jones Industrial Average rose more than one percent on Friday to a record high, following the BOJ's decision to pump more money into financial markets.

The policy shift of Japan's public pension fund also encouraged investors to buy stocks. The Government Pension Investment Fund has decided to buy more foreign stocks.

The Dow closed the day up 1.13 percent at 17,390.

On the currency market in New York, traders sold the yen, pushing up the dollar to a 6-year and 10-month high at the 112-yen level.

They bought the dollar after the clear divergence of monetary policies between Japan and the United States.

The US Federal Reserve decided to end its bond buying program on Wednesday, and investors expect wider gaps in interest rates once the Fed starts raising them.