View the article online at http://citywire.co.uk/money/article/a877184
Asian shares extend rally after BoJ’s surprise move
Energy stocks traded mixed as oil halted its four-day rebound.
Asian markets extended rally on Monday after the Bank of Japan’s surprise move into negative interest rates sent stocks higher on Friday.
The MSCI Asia Pacific Index added 0.9% as of 10:55 a.m. Tokyo time. In Japan, the Topix rose 1.9% to extend Friday’s 2.9% surge.
Australia’s S&P/ASX 200 Index rose 1.3%, led by health-care stocks and technology shares, while the Kospi index in Seoul advanced 0.3%. Hong Kong’s Hang Seng Index slid 0.2%, weighed down by the manufacturing data, while the Shanghai Composite index lost 0.6%.
Energy stocks traded mixed after oil halted its four-day rebound. Shares of Santos were down 0.63%, Woodside Petroleum was up 0.36%. Oil Search gained 0.62% in early trade. Japan's Inpex was flat while Japan Petroleum gained 1.13%.
In Japan, banking stocks were mostly down, with major players extending their losses from Friday after the BOJ's announcement. Mitsubishi UFJ was down 5.61%, SMFG fell 7.01%, and Mizuho Financial was down 5.93%.
Exporters, on the other hand, were mostly up as the dollar-yen pair traded higher at 121.31. Shares of Toyota, Nissan and Canon were up between 1.33% and 2.42% while Sharp was down 2.88% in early trade.
South Korean blue chip stocks were mixed with shares of Samsung Electronics gaining 0.87%, Kepco up 1.52%, and Hyundai Motor down by 0.75%.
On the data front, a number of important economic indicators are due on Monday. They include the Chinese official manufacturing and services PMI for January, South Korean trade data for January and consumer price indexes from Thailand and Indonesia.
News sponsored by:
Making the most out of Europe’s potential means seeing things differently. Learn more about how BlackRock’s focused approach to investing in Europe helps investors unlock the continent’s vast potential.
In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.
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.
by Daniel Grote on Dec 06, 2016 at 09:50