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Asian markets end mostly lower on Thursday

28 Apr 2016 Evaluate

Asian equity markets ended mostly lower on Thursday, as an overnight rally in oil prices and the Federal Reserve's decision to keep rates unchanged were overshadowed by the Bank of Japan's unchanged policy decision. The Bank of Japan shocked markets by keeping its monetary policy steady despite multiple headwinds plaguing the economy. The central bank maintained its negative 0.1 percent deposit rate and the size of its asset purchase program, while adopting a 300 billion yen ($2.75 billion) new lending program to aid regional banks operating in areas hit by this month's earthquake in southern Japan. Japanese shares reversed early gains to end sharply lower after the yen soared as much as 2.6 percent against the dollar in the wake of BoJ announcement. Sluggish inflation and spending data also weighed on markets. Chinese shares fell, dragged down by resource stocks, as commodity prices fell in response to a government crackdown on speculation in commodity markets.

Asian IndicesLast Trade             Change in Points

Change in %  

Shanghai Composite2,945.59 -8.08-0.27
Hang Seng21,388.03 26.430.12
Jakarta Composite4,848.39 2.730.06
KLSE Composite1,674.76 -17.58-1.04
Nikkei 22516,666.05 -624.44-3.61
Straits Times2,862.30 -12.42-0.43
KOSPI Composite2,000.93 -14.47-0.72
Taiwan Weighted8,473.87 -89.18-1.04

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