Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a652182
Asian shares down ahead of Bank of Japan meeting
by Himanshu Singh on Jan 21, 2013 at 03:50
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:
Subscribe to Wealth Manager magazine and rack up CPD points
Citywire Wealth Manager has partnered with CISI to enrich the experience of subscribers to our magazine.
Today's top headlines
More about this:
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
on May 20, 2013 at 13:52