Japan injects 1.6 trillion into money markets

The Bank of Japan injected 1 trillion ($8.4 billion) into the money markets Friday and 600 billion Monday in an effort to counter shockwaves triggered by the US subprime crisis.

The two injections appear to have calmed investors. The Nikkei Average Index, Japan's main stock exchange, was up 36 points, or 0.21%, on Monday after closing 2.4% (407 points) down on Friday.