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Asian markets diverge after Bank of Japan decision on interest rate

2019-04-25 07:38 am | Resource: News | No Views : 91

Asian markets diverge after Bank of Japan decision on interest rate

Asia's main stock markets mixed on Thursday after the Bank of Japan decided to maintain a negative 0.1% short-term interest rate and buy government bonds so that 10-year bond yields remain at around 0%.

In other news, Carlos Ghosn, former head of the Renault-Nissan-Mitsubishi alliance, received another bail from the Tokyo District Court.

Kuroda: It's probably time to reach the target price of 2%

BOJ Governor Haruhiko Kuroda said on Thursday it would take some time for consumer prices to reach the 2% target, but added that the Bank of Japan will adjust monetary policy as needed to maintain momentum towards the inflation target. Speaking at a news conference in Tokyo, Kuroda pointed out that the goal at the moment is to increase confidence in the Bank of Japan by setting clearer guidance.

The governor also stressed that the risks currently tend to decline for prices and the economy. He said prices are still relatively weak, but he expects the inflation rate to move gradually about 2%.

Kuroda's comments follow the Bank of Japan's decision to keep interest rates at "tight" levels for a long period, at least until the spring of 2020. The BOJ said it took into account uncertainty and economic developments abroad when making the decision.

Kim: We hope to build on friendly relations with Russia

In the political news, Democratic People's Republic of Korea (DPRK) leader Kim Jong-un described talks with Russian President Vladimir Putin as "one face-to-face exchange of views" and thanked him for spending time traveling to Vladivostok to meet with him.

"I thank you for a wonderful time and I hope that our negotiations will continue in the same way, in a useful and constructive manner," Kim said, adding that he hoped the summit would promote traditional friendly relations between Russia and the North. Korea. The North Korean leader took the opportunity to congratulate Putin on his "mandate to lead Russia forward" again in 2018. The two heads of state held their first meeting in Vladivostok on Thursday, discussing the situation on the Korean Peninsula and bilateral relations. Putin hailed the summit and described the talks as " "He said.

Asian stocks close
  • The Nikkei 225 rose 0.56% at 7:41 am.
  • In mainland China, the Shanghai Composite Index fell 1.03% at 7:41 am CET.
  • While the Shenzhen Composite Index fell 1.31%.
  • Hong Kong's Hang Sang Index was flat, rising 0.03% at 7:41 am CET.
  • South Korea's Kospi fell 0.37% at 7:33 am.
  •  While the Australian S & P / ASX 200 rose 0.16% at 7:31 am CET.

The greenback was down 0.22% against the yen to hit 111.935 at 7:42 CET.

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