Asia Pares Losses As Boj Stands Pat
Date
9/22/2023 7:12:52 AM
(MENAFN- Baystreet.ca)
Asia Pares Losses as BoJ Stands Pat
Asia-Pacific markets are mixed as the bank of Japan left its monetary policy unchanged after its latest meeting concluded on Friday, with some markets paring losses earlier in the day.
In Japan, the NIKKEI 225 fell another 168.62 points, or 0.5%, to 32,402.41, its lowest level this month.
The central bank kept rates at -0.1%, and capped the 10-year Japanese government bond yield around zero.
BOJ Governor Kazuo Ueda has maintained that an ultra-easy monetary policy is needed until Japan sees a sustained inflation at 2%. Japan's headline inflation figures have remained above this target since April 2022, with the latest reading coming in at 3.2% for August.
In Hong Kong, the Hang Seng index regained 402.04 points, or 2.2%, to 18,057.45, reversing losses and leading gains in Asia.
In other markets
The CSI 300 gained 66.49 points, or 1.8%, to 3,783.93.
In Taiwan, the Taiex index recovered 27.81 points, or 0.2%, to 16,344.48.
In Singapore, the Straits Times inched forward 2.01 points, or 0.1%, to 3,204.82.
In Korea, the Kospi index slid 6.84 points, or 0.3%, to 2,508.13.
In New Zealand, the NZX 50 restocked 53.88 points, or 0.5%, to 11,372.62.
In Australia, the ASX 200 eked up 3.6 points, or 0.1%, to 7,068.84.
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