Economists say a steeper decline in larger economies is more likely than a synchronized recovery. Several Asian markets rely on the final decisions on Brexit and the US-China trade wars.
Indices outside Japan only went up 0.05% as investors grow uncertain of global bank endeavors.
Chinese blue chips went up by 0.56, while Hong Kong’s Hang Sang fell 0.28%. The Australian share market went up by 0.68%.
In Europe, the pan-region Euro Stoxx 50 futures went up 0.06%. Meanwhile, German DAX futures nudged down 0.03% while FTSE futures went up 0.11%.
The British pound fell by 0.51% on Thursday when UK Prime Minister Boris Johnson insisted on a general election in December.
Asian market investors look forward to policy meetings in key economies.
European Central Bank President Mario Draghi left ECB policy unchanged but told his successor to continue efforts to prop up the eurozone economy.
Meanwhile, the US will meet to decide on interest rate cuts for the third time this year. Global macro strategists in Singapore say the meeting was more for each cut’s pacing and magnitude.
Japanese Market in Focus
The Japanese market closed higher as the best performers of the session rose between 3% to 8% in today’s session.
Eisai Co., Ltd., gained the most at 8.18% or 616.0 points at the close. Chugai Pharmaceutical Co., Ltd came second, earning 3.53% or 300.0 points. Meanwhile, Pacific Metals Co., Ltd upped 3.32%.
Conversely, material manufacturer Kuraray Co., Ltd lost 7.00% or 99.0 points at the close. Nippon Electric Glass Co., Ltd fell 2.50% or 61.0 points, and NTN Corp went down 2.33% or 8.0 points.
The Bank of Japan set a meeting for October 31 to rethink monetary policies. Asian market analysts say VAT-hikes and global slowdown are threats as possible causes for their deflation.
The Nikkei 225 rose 0.22% at a 52-week high.