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  • Asian markets bounce back to recover yesterday’s losses
  • Shares in Japan, South Korea, China, and Hong Kong gain
  • Brexit delay added to the positive investment sentiment

Asian shares rebounded on Friday, March 15, 2019, after a mixed trade yesterday. The recovery was led by Japan’s Nikkei 225 which gained on the back of Bank of Japan’s decision to keep its monetary policy steady, reports CNBC.

After a lackluster performance on Thursday, courtesy of less than encouraging economic data from China and tensions surrounding the Brexit deal, Asian stocks opened on a high note today.

Markets in Japan, South Korea

A combination of positive factors such as the Bank of Japan’s decision to not touch its existing monetary policy and an overnight vote from U.K. lawmakers to further delay the exit of the country from the European Union (EU) raised the investment sentiment in Asia.

The Bank of Japan, playing to the expectations of the majority of the economic analysts, decided to keep the short-term interest rate at minus 0.1 percent. Japan’s lender of the last resort said that it will buy Japanese government bonds to ensure that 10-year JGB yields continue to float around the zero percent mark. For the uninitiated, bond yields and prices always have an inverse relationship.

In their policy statement, the Bank of Japan noted that it will “continue its moderate expansion, despite being affected by the slowdown in overseas economies for the time being.”

As a result, Japan’s Nikkei 225 finished the day at 21,450.85 points, raising 0.77 percent from its previous close. The island nation’s Topix index also gained 0.90 percent to finish the day at 1,602.63.

South Korea’s Kospi closed the day at 2,176.11, 0.95 percent higher from its previous close.

Shares Trade Higher in China, Hong Kong

The stock markets in mainland China and Hong Kong mirrored the behavior of other East Asian markets.

Hong Kong’s Hang Seng index ended on a higher note after jumping 0.82 percent.

In the same vein, Mainland China shares traded higher with the Shanghai Composite closing the day’s trade at 3,021.75 and the Shenzhen composite jumping 1.42 percent to finish the week’s business at 1,641.37.

 

 

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