Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Asian shares down ahead of Bank of Japan meeting

Asian shares down ahead of Bank of Japan meeting

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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter