Sat, December 02, 2023

Bank of Japan, Monetary Policy and Stocks in Asia

Central banks and digital currencies

Investors in Asia, Europe, North America, and across the globe are trying to analyze the challenges connected with coronavirus pandemic. On Monday, stocks in the Asia Pacific saw gains thanks to the decision of the Bank of Japan.

Let’s start with Japanese stocks. They led the gains among the region’s major markets. For example, the Nikkei 225 added 2.71% to close at 19,783.22. The shares of robot maker Fanuc jumped 11.95%. Importantly, Fanuc released financial results for the year that ended in March 2020. This information helped to boost the shares of Fanuc.

The Topix index also had a good day. Its index gained 1.83% to finish its trading day at 1,447.25. 

Mainland Chinese stocks strengthened their positions on Monday. The Shanghai Composite added 0.25% to about 2,815.49. At the same time, the Shenzhen composite rose slightly to 1,738.05. 

Moreover, Hong Kong’s Hang Seng index gained about 1.9% as of its final hour of trading. 

South Korea’s Kospi index added 1.79% to close at 1,922.77. Moreover, Australia’s S&P/ASX 200 gained 1.5% to 5,321.40. 

The central bank and stocksStocks, oil industry and other factors

As stated-above, the decision of the country’s central banks helped to boost the stocks. The Bank of Japan announced a series of measures to minimize the damage caused by coronavirus pandemic. 

These included an increase in purchases of commercial paper as well as corporate bonds. Also, the Bank of Japan plans to continue buying Japanese government bonds and treasury discount bills. 

Moreover, the Bank of Japan decided to keep the short-term policy interest rate target at -0.1%. The central bank also promised to keep 10-year Japanese government bond yields around 0%.

The Bank of Japan, as well as other central banks, are ready to do whatever it takes to support the local economy. For example, the U.S. Federal Reserve took significant steps, as the Fed is trying to quell market fears.

YOU MAY ALSO LIKE

Oil prices rose

In the ever-fluctuating world of crude oil trading, Friday morning witnessed oil

The US's new Antitrust Bills to control Tech Giants' power

In the dynamic realm of technology, safeguarding users from online fraud has

EU and European Commissions

In recent months, European inflation rates have been a rollercoaster ride, showcasing

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

BROKER NEWS