Wealth Manager - the site for professional investment managers

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

Most Asian shares advance ahead of BOJ statement

Most Asian shares advance ahead of BOJ statement

Most Asian shares advanced on Tuesday in late morning session as the yen weakened before the Bank of Japan issues a policy statement.

The MSCI Asia Pacific Index added 0.2% to 137 as of 11:34 a.m. in Tokyo. Japan’s Topix index gained 0.6% as the yen weakened against 16 major currencies.

New Zealand’s NZX 50 Index added 0.1%. South Korea’s Kospi index fell 0.4%, while Taiwan’s Taiex index was little changed. Singapore’s Straits Times Index lost 0.1%. Hong Kong’s Hang Seng Index slid 0.3%.

China’s Shanghai Composite Index fell 0.6%, retreating from a two-month high, after money-market rates surged as the central bank drained funds from the banking system after new lending reached a record.

The country’s foreign direct investment rose 16.1% to $10.76 billion in January from a year earlier, according to a government report released on Tuesday. That compares with the 2.5% median growth forecast by analysts in a Bloomberg survey and a 3.3% rise in December.

In corporate news, Nissan Motor Co., a carmaker that gets nearly 80% of sales outside Japan, jumped 1.9% in Tokyo.

BHP Billiton Ltd., the world’s biggest mining company, gained 1.9% in Sydney after first-half profit jumped more than expected.

On the negative side, Bank of Communications Co. fell 1.2% in Hong Kong, pacing declines among Chinese lenders.

US markets were closed on Monday for a holiday.

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 WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter