Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Asian stocks are trading significantly higher as Bank of Japan maintains stable interest rates

Asian stocks are trading significantly higher as Bank of Japan maintains stable interest rates

Japan's Nikkei grew 0.7%. South Korea Kospi ( KOSPI ) increased by 0.6%. Australia's S&P / ASX 200 rose 0.3%. Taiwanese Taiex turned in early profits and fell 0.3%.
Hong Kong Hang Seng Index ( HSI ) and Shanghai Composite Index (] SHCOMP respectively) by 0.5% and 0.7%.
  Stocks fight for direction before Fed decision
The Bank of Japan kept a short interest rate of -0.1%. He also left his interest rate guidelines unchanged and said he intends to keep interest rates where they are at least next spring. But the central bank added that it would "not hesitate" to make adjustments if necessary.

The two-day meeting of the Federal Reserve will also begin on Tuesday. The US Central Bank is widely expected to cut interest rates for the first time since 2008.

Meanwhile, trade talks between the United States and China begin in Shanghai. This is the first time leading negotiators on both sides have met in person since their leaders announced a temporary G20 truce last month. US Treasury Secretary Stephen Mnuchin and Commerce Representative Robert Lighthizer are expected to speak with Chinese Deputy Prime Minister Liu Liu and other senior officials.
Here are some of the other great movements in Asian markets at 11:30 AM Hong Kong time. [19659011]

  • Tencent ( TCEHY ) increased 1% in Hong Kong. The Chinese social media and games giant announced a partnership on Monday with Qualcomm ( QCOM ) . Companies expect to "optimize" Tencent games on devices that use Qualcomm chips, among other efforts. Separately, Tencent has announced that it will renew its partnership with the NBA in five years.
  • Chinese film and television production company Beijing Enlight Media advanced 2%, upgrading its profits on Monday. The action gained momentum after its animated film The Nezha broke local records for opening a cartoon. According to the profit, the company earned $ 102 million in ticket revenue in the first three days.
  • The Japanese Yen strengthened against the USD, overcoming the weakness earlier in the morning. It was trading at $ 108.7500 a dollar after the Bank of Japan's Policy Announcement
  • Hong Kong will announce later this week its GDP GDP for the quarter. Analysts expect the local economy to be affected by the city's mass protests. Shares in Hong Kong closed 1% lower on Monday
  • Oil prices rose during early trading in Asia. The WTI and Brent commodities were trading at $ 57.18 a barrel and $ 63.91 a barrel respectively.
  • US stocks ended mixed on Monday. The Dow Jones industrial average rose 0.1%. But the S&P 500 lost 0.2% and the Nasdaq Composite Index dropped 0.4%.

Source link