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 After Best Three-Day Advance Since April

Asian stocks swung between gains and losses as energy shares dropped with crude while health-care and consumer-staple companies advanced.

The MSCI Asia Pacific Index added 0.1 percent to 132.97 as of 9:06 a.m. in Tokyo after falling as much as 0.1 percent. The gauge posted its biggest three-day advance since April through Wednesday as Japanese shares erased their Brexit losses amid signs the government will add more stimulus. The Topix index rose 0.2 percent on Thursday after sliding 0.1 percent.

Australia’s S&P/ASX 200 Index was little changed and South Korea’s Kospi index fell 0.3 percent. New Zealand’s S&P/NZX 50 Index rose 0.2 percent, heading for a record close after surging more than any other major developed market index this year.

Source : Bloomberg

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