Business sentiment at Japanese companies improved during the April-June period, a closely watched Bank of Japan survey showed Tuesday, surprising bears who had braced for a reality check on the markets.
Helped by recent stock price rises and better-than-expected export performance, the diffusion index for large manufacturers -- a key gauge for the nation's business confidence -- rose by 5 points from the previous quarter to minus 5, according to the BOJ "tankan" survey.
It was a reversal from the 1-point drop seen in March, bringing the DI back to levels last seen in March 2001.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.