Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Asian markets gain on Bank of Japan report

Asian markets gain on Bank of Japan report

Asian markets gained on Monday in late morning trade led by Japanese shares after the yen fell to fresh lows on speculation the next Bank of Japan governor will deploy aggressive monetary easing.

The MSCI Asia Pacific Index rose 0.3% to 134 as of 11:11 a.m. in Tokyo. Japan’s Topix Index, the country’s broadest equity measure, advanced 1.6% as the yen fell after the Kyodo news service reported that Prime Minister Shinzo Abe is preparing to nominate Asian Development Bank President Haruhiko Kuroda as BOJ governor.

Australia’s S&P/ASX 200 Index climbed 0.7% and New Zealand’s NZX 50 Index climbed 0.4%. South Korea’s Kospi Index lost 0.1%.

Hong Kong’s Hang Seng Index added 0.1% and China’s Shanghai Composite Index gained 0.3%.

In corporate news, Kawasaki Kisen Kaisha Ltd. jumped 8.8%, pacing gains among Japanese shippers as the yen declined.

Alumina Ltd. rose 3.6% in Sydney after its rating was raised to neutral at Credit Suisse Group AG.

Japanese electronics makers Sharp Corp. plunged 5.5% after two people familiar with its talks with Taiwan’s Foxconn Technology Group said they’ll probably end 26 March without an agreement.

Sun Hung Kai Properties Ltd. fell 2%, pacing declines among Hong Kong developers after the city doubled stamp duty on some property transactions.

Investors this week will ponder whether Italy's weekend elections will produce a stable government, and the implications of that for euro zone cohesion, while Moody's credit downgrade on UK will play on confidence in the pound and government bonds.

Markets also look forward to testimony on Tuesday from US Federal Reserve Chairman Ben Bernanke for further clues of when the central bank may slow or stop buying bonds.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter