Asian Indexes Trade Up on BoJ Decision – Nikkie Gains 3%
Stocks across Asia today traded up on the BoJ’s decision to implement a negative interest rate policy.
The BoJ decided not to expand it’s QE beyond the 80tn Yen, but implemented a -0.1% policy, moving the interest rate for the first time in over 5 years.
The Nikkei saw an immediate uptick, trading up 510 points (3.03%) in afternoon trade. Toyota (TYO:7203), Japan Tobacco (TYO:2914) and East Japan Railway (TYO:9020) all saw price moves of more than 4%, while Nissan Motor (TYO7201) saw a 7% single day gain, leading the pack for the day.
In China, the SHCOMP was trading up over 3% in late afternoon trading, with the Shenzhen CSI300 trailing just behind at 2.8%. Bank of China (601988), China Life Insurance (601628) and CITIC Securities (600030) led the gains.
The HSI saw a 450+ point move upwards, with the Hong Kong-based exchange sitting at 19610 points close to the close. China exposed companies PetroChina (857) and Ping An Insurance (2318) led the gains, up over 3% each.
All in all, it’s been a very positive day for Asian stocks, with the news that the BoJ will continue to print trillions of Yen at zero percent interest rates, investors are diving in to get a piece of the pie.
Latest posts by Daniel Simmons (see all)
- 4 Things to Know in Monday’s Market - September 12, 2016
- 4 Things to Know in Thursday’s Market - September 8, 2016
- 4 Things to Know as EOG Resources Merges With Yates Petroleum in $2.5 Billion Deal - September 7, 2016