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4 Oct 2013
Asian bourses closing on the down side
FXstreet.com (Athens) – Asian equity markets closing the week downwards amisdt of the Japan’s monetary policy decision in the Asian and Europe sessions.
At the time of writing, all the major Asian bourses are moving lower amidst to a more or less extent of the BoJ released policy decision a bit earlier. Elaborating on, Nikkei 225 is down(-1.2%) to 13,994; ASX 200 also down as well (-0.4%) to 5,212 and NZX 60 (-0.3%) to 4,758, while China as widely known is closed. The BoJ decision to stay “on hold” let down traders all over the globe, as the vast majority of carry traders had been under pressure during the whole week due to the market-wide slide in the yen crosses. However the BoJ disappointed traders as the top policy authority reflected on a moderate economic recovery and gradual return to the 2 percent inflation target. Elaborating on, the Bank of Japan concluded its policy meeting with a unanimous vote to hold policy steady while continuing a 60-70 trillion monetary base plan. While the central bank noted that business sentiment continues to improve, its economic assessment is kept unchanged. Traders should bear in mind that we are ahead of the BoJ Governor Kuroda’s press conference later today on European trading session and we can not exclude the fact that he might reinforce hope for more.
At the time of writing, all the major Asian bourses are moving lower amidst to a more or less extent of the BoJ released policy decision a bit earlier. Elaborating on, Nikkei 225 is down(-1.2%) to 13,994; ASX 200 also down as well (-0.4%) to 5,212 and NZX 60 (-0.3%) to 4,758, while China as widely known is closed. The BoJ decision to stay “on hold” let down traders all over the globe, as the vast majority of carry traders had been under pressure during the whole week due to the market-wide slide in the yen crosses. However the BoJ disappointed traders as the top policy authority reflected on a moderate economic recovery and gradual return to the 2 percent inflation target. Elaborating on, the Bank of Japan concluded its policy meeting with a unanimous vote to hold policy steady while continuing a 60-70 trillion monetary base plan. While the central bank noted that business sentiment continues to improve, its economic assessment is kept unchanged. Traders should bear in mind that we are ahead of the BoJ Governor Kuroda’s press conference later today on European trading session and we can not exclude the fact that he might reinforce hope for more.