A security guard walking past in front of the Bank of Japan headquarters in Tokyo. – REUTERSPIXThe listed shares of the Japanese and Swiss central banks rose sharply on Tuesday, without any apparent reason, possibly reflecting high levels of investor exuberance in markets awash with cash.
Shareholders' rights in both banks are also severely limited, which should theoretically narrow their investment appeal. SNB shares built on Monday's strong gains after the bank posted a net 2020 profit of 20.9 billion Swiss francs . At one point, the stock was up more than 10% in two days.The SNB declined to comment on its share price move.
SNB-watchers said the legal limit on dividends, at 6% of the share capital, also conflicted with the stock gains.
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