Prime Minister Naoto Kan

Yen Falls and Stocks Soar as Bank of Japan Intervenes in Currency Market

The yen tumbled as much as 3% in today's trading as the Bank of Japan intervened in the currency markets by buying dollars and selling yen in an attempt to halt the surge in the value of the yen. Investors plowed money into exporters, sending the Nikkei up 2.3%. Hong Kong's Hang Seng inched up 0.1% and in China, the Shanghai Composite sank 1.3%.