The Asian markets ended mostly higher on Wednesday, with Japanese stocks leading regional gains, after the Bank of Japan announced an overhaul of its massive monetary stimulus program. Japan's central bank kept its key interest rate unchanged at -0.1 percent and announced substantial changes to its monetary policy framework, including adopting quantitative and qualitative easing with yield curve control across different maturities. The central bank abandoned its monetary base target, but introduced an interest-rate target for 10-year government bonds to achieve its 2 percent inflation target at the earliest possible time. The US Federal Reserve is widely expected to leave interest rates unchanged, but investors will remain focused on the accompanying policy statement and Fed Chair Janet Yellen’s press conference for signs of change in tone about the economy or future rate hikes. Chinese shares ended higher, driven by surge in major steelmakers as investors bet on the next target of government-led restructuring after the disclosure of merger plans between Baoshan Iron and Steel and Wuhan Iron and Steel.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,025.87 | 2.87 | 0.10 |
Hang Seng | 23,669.90 | 139.04 | 0.59 |
Jakarta Composite | 5,342.59 | 40.10 | 0.76 |
KLSE Composite | 1,658.73 | 2.95 | 0.18 |
Nikkei 225 | 16,807.62 | 315.47 | 1.91 |
Straits Times | 2,850.74 | -3.95 | -0.14 |
KOSPI Composite | 2,035.99 | 10.28 | 0.51 |
Taiwan Weighted | 9,228.50 | 66.92 | 0.73 |