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 Sam Vecht: the best opportunities in frontier markets

Sam Vecht: the best opportunities in frontier markets

Blackrock's Vecht evaluates frontier markets and explains where he sees the opportunities

Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter