TOKYO -- Investors are giving the cold shoulder to central banks' surprise stimulus moves these days, choosing to buy quality stocks amid lingering concerns about low inflation.
Even after the European Central Bank on Thursday rolled out an easing package that was more far-reaching than expected, stocks rose for a mere hour or so. This development was virtually a repeat of what happened after the Bank of Japan decided to push interest rates below zero on Jan. 29, when the resulting market rally lasted no more than about 30 minutes.
