US shares surge into record territory after Japan stimulus

NEW YORK, Nov 1 (AFP): US stocks soared into record territory Friday following the Bank of Japan's surprise stimulus, which spurred a wave of buying in markets around the globe.
Strong earnings from oil and technology companies, and Thursday's buoyant report on US economic growth, underpinned the push by the key Dow and S&P 500 indices to fresh highs, and the Nasdaq Composite to its best level since March 2000.
The BoJ announced on Friday it would add up to 20 trillion yen ($182 billion) to its current asset-buying scheme, bringing it to 80 trillion yen annually, in an unexpected shift aimed at reviving growth just as the US Federal Reserve winds down its own stimulus spree.
Japan's Nikkei 225 soared nearly five per cent, while bourses in Britain, France and Germany were all solidly higher.
"Just as the Fed takes away the punch bowl, the BoJ has turned up with a crate of sake," said Capital Spreads dealer Jonathan Sudaria.
The tech-rich Nasdaq Composite Index rose 63.95 (1.40 per cent) to 4,630.09, also well past previous post-2000 highs.