Asian stocks were up today (April 8th) after the Bank of Japan (BoJ) said it would keep its massive monetary stimulus intact. The central bank also stated that the country's economy is recovering "moderately".
Japan posted a current account surplus of 1,440.1 billion yen (£8 billion) in February, the biggest in more than three years, on lower oil prices and a weaker yen.
The country's main index had risen in anticipation of the statement and held its gains after the BoJ decision was announced. The benchmark Nikkei 225 rose 0.8 per cent to close near a 15-year high at 19,789.81.
Meanwhile, Chinese shares hit another seven-year high, with banks up on hopes of further policy support. The benchmark Shanghai Composite index closed up 0.84 per cent at 3,994.81.
Australia's S&P/ASX 200 added 0.6 per cent at 5,960.70. Hong Kong's Hang Seng soared 3.8 per cent to 26,236.86 after a five-day long weekend. South Korea's Kospi climbed 0.6 per cent to 2,059.26.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.