Japan Stocks Fluctuate as Yen Climbs Before BOJ Policy Decision

Shares in Tokyo swung between gains and losses, with iron and steel producers falling while financial stocks rose, as the yen advanced before the Bank of Japan’s decision on adding to stimulus.

The Topix index fell 0.1 percent to 1,306.31 as of 9:12 a.m. in Tokyo after rising as much as 0.2 percent. The Nikkei 225 Stock Average was little changed. The yen added 0.5 percent to 104.74 per dollar. The BOJ makes its call on monetary policy Friday in one of the most highly anticipated announcements in recent months.

Any decision is likely to move the markets, with the big question being whether governor Haruhiko Kuroda will opt for more stimulus or disappoint. An overwhelming majority of economists surveyed by Bloomberg expects the central bank to add to its record easing program.

Source: Bloomberg

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Asian Stocks Fluctuate as Investors Await BOJ Policy Decision

Asian stocks swung between gains and losses as the yen strengthened in volatile trading before the Bank of Japan’s policy decision.

The MSCI Asia Pacific Index rose 0.1 percent to 134.97 as of 9:06 a.m. in Tokyo, after dropping as much as 0.1 percent. The gauge is heading for its third weekly advance, bringing the monthly gain to 4.7 percent. The Topix index added 0.2 percent even as the yen jumped 0.5 percent. Japanese shares have fluctuated this week ahead of the central bank’s decision. The BOJ is widely expected to add to stimulus at the end of its two-day meeting.

Thirty-two of 41 analysts in a Bloomberg survey forecast that the BOJ will expand its record stimulus program at the meeting. Prime Minister Shinzo Abe’s government added pressure on Wednesday as Kyodo News cited him as saying a fiscal stimulus package of more than 28 trillion yen ($ 267 billion) would be compiled next week.

Source: Bloomberg

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