The Asian markets closed mostly in green on Thursday, ahead of a US jobs report scheduled on Friday which is expected to set the tone for the timing of a widely expected rate hike by the Federal Reserve this year. Nearly 60% of Japanese households cut spending after last year’s sales tax hike and most continue to withhold consumption, a Bank of Japan survey showed, highlighting the challenges of reviving an economy struggling to edge out of recession. The survey also showed that while households saw economic conditions improve and income rise, they remained hesitant of boosting spending, underscoring the tricky balance the BOJ faces in trying to accelerate inflation without cooling consumption. Kozo Yamamoto, a ruling party lawmaker and one of the architects of Premier Shinzo Abe’s Abenomics reflationary policies stated that the Bank of Japan must ease monetary policy further at its rate review on April 30 given signs of slowdown in the economy and prices. He added that the central bank has various tools available if it were to act again, such as topping up asset purchases or scrapping a 0.1% floor it sets on money market rates. Japan’s monetary base fell more-than-expected last month. The Bank of Japan stated that Japan’s Monetary Base fell to 35.2%, from 36.7% in the preceding month.
Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,825.78 15.49 0.41 Hang Seng 25,275.64 192.89 0.77 Jakarta Composite 5,456.40 -10.47 -0.19 KLSE Composite 1,831.97 5.66 0.31 Nikkei 225 19,312.79 277.95 1.46 Straits Times 3,453.75 6.73 0.20 KOSPI Composite 2,029.07 0.62 0.03 Taiwan Weighted 9,600.32 92.66 0.97
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