Most of the Asian equity indices were trading in the red led by Japanese benchmark Nikkei average which tumbled by over a percent as the yen jumped following the Bank of Japan's decision to further ease policy. The BOJ doubled its inflation target to 2 percent and adopted an open-ended commitment to buy assets starting 2014. The bank also lifted its growth forecast, predicting gross domestic product would expand 2.3 percent in the year ended March 2014, up from an earlier 1.6 percent estimate.
Shanghai Composite declined 10.04 points or 0.43% to 2,305.10, Hang Seng slipped 52.54 points or 0.22% to 23,606.45, Jakarta Composite dipped marginally by 1.81 points or 0.04% to 4,414.73, Nikkei 225 tumbled 111.53 points or 1.04% to 10,598.40, KOSPI Composite dropped 2.64 points or 0.13% to 1,993.88 and Taiwan Weighted was down by 13.43 points or 0.17% to 7,745.67.
On the flip side, KLSE Composite rose 6.18 points or 0.38% to 1,634.84 and Straits Times was up by 9.90 points or 0.31% to 3,229.76.
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