View the article online at http://citywire.co.uk/money/article/a652182
Asian shares down ahead of Bank of Japan meeting
Stocks retreated from 17-month high as yen touched a new low ahead of the outcome of the BOJ policy meeting this week.
Asian stock markets inched lower on Monday, retreating from a 17-month high, as yen touched a new low ahead of the outcome of the Bank of Japan policy meeting this week amid expectations for bold monetary easing measures.
The MSCI Asia Pacific Index slid 0.2% to 132 as of 10:49 a.m. in Tokyo. Japan’s Nikkei 225 Stock Average fell 0.9% ahead of a Bank of Japan policy meeting starting today. Japanese Prime Minister Shinzo Abe is pressuring the BOJ to double its 1% inflation goal and accelerate cash infusions to end deflation.
Australia’s S&P/ASX 200 Index oscillated between gains and losses. South Korea’s Kospi Index sank 0.7% and Singapore’s Straits Times Index gained 0.1%. Hong Kong’s Hang Seng Index erased an early retreat and China’s Shanghai Composite Index fell 0.4%.
Japan’s exporters fell after the yen rebounded. Sumitomo Chemical Co and Mitsui Chemicals Inc. dropped in Tokyo after Bank of America Corp. cut their ratings.
Gome Electrical Appliances Holding Ltd. plunged 6.1% in Hong Kong after confirming a report of its closure of Gome- branded stores in the city.
Japan’s Sumitomo Chemical Co and Mitsui Chemicals Inc. dropped in Tokyo after Bank of America Corp. cut their ratings.China Vanke Co., the country’s biggest publicly traded property developer by market value, added 10% in Shenzhen after saying it plans to move trading of its foreign-currency denominated shares to Hong Kong.
News sponsored by:
After Boris announced he was backing Brexit, sterling suffered its biggest slump in six years. Our Market Mavens discuss. Follow the Market Mavens LinkedIn page for weekly videos, in which our panel of industry experts share their views on financial news
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
More about this:
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add email@example.com to your safe senders list so we don't get junked.