Reuters: US Dollar Report: Japan big manufacturers' mood turns positive -BOJ tankan

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Japan big manufacturers' mood turns positive -BOJ tankan Jun 30th 2013, 23:59 TOKYO, July 1 | Sun Jun 30, 2013 7:59pm EDT TOKYO, July 1 (Reuters) - Big Japanese manufacturers' mood turned positive in April-June for the first time in nearly two years, the Bank of Japan's closely watched "tankan" survey showed, a sign the government's reflationary policies continue to boost business morale despite recent market turbulence. The headline index for big manufacturers' sentiment was plus 4 in June, compared with minus 8 in March and the median market forecast for plus 3, the quarterly tankan survey showed on Monday. It was the first positive reading, meaning that optimists outnumbered pessimists, since the September 2011 survey. Big manufacturers expect conditions to improve over the next three months, with the index for September seen at plus 10, against plus 7 seen by economists in a Reuters poll. The survey also showed big firms plan to raise their capital spending by 5.5 percent in the financial year that started on April 1, compared with a median forecast for a 2.9 percent increase. The sentiment indexes are derived by subtracting the percentage of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.

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