Stocks in Asia were seen trading slightly higher on Tuesday, with shares in Japan rallying before the release of the Bank of Japan (BoJ) monetary policy statement, which is expected to be released later in the day.
The Japanese benchmark Nikkei 225 index came in at 1.26% to 14,573.95 at the time of writing, at the same time Tokyo’s Topix index climbed 0.98% higher to 1,202.94.
The Bank of Japan is expected to release its policy statement which is forecasted to show the bank keeping its policy unchanged.
Exporters such as Sharp climbed 2.5% higher, while carmaker giants Nissan motors rose 2% higher and Hitachi added more than 1.5%. Hong Kong’s Hang Seng index dropped 0.35% lower at 22,458.00 at the time of writing, at the same time Korea’s Kospi index declined 0.48% to trade at 1.937.11.
Stocks – Australia
Australia’s benchmark S&P/ASX 200 index was unchanged at 5,381.90 as of 1.46am GMT, after the Reserve Bank of Australia released its statement which revealed the bank would keep its benchmark rate despite the weak labour market.
According to the central bank’s minutes from its Feb 4 meeting, a period of steady interest rate is likely, with the record-low borrowing cost.
“If the economy evolved broadly as expected, the most prudent course would likely be a period of stability in interest rates,” the statement read.
The Aussie was seen trading 0.5% higher against the greenback following the bank’s release.
BHP Billiton shares climbed 2.3% higher to A$38.89, the highest close within a year. After the company posted its net profit of $8.11 billion in the six months through December 31 from a year earlier, according to the company’s statement released today.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
The post Asian Stocks Slightly Higher Ahead BoJ Statement appeared first on | HY Markets Official blog.
Article provided by HY Markets Forex Blog
