Arab Today, arab today yen rises asia stocks fall ahead of bank of japan decision
Last Updated : GMT 22:17:05
Arab Today, arab today
Arab Today, arab today

Yen rises, Asia stocks fall ahead of Bank of Japan decision

Arab Today, arab today

Arab Today, arab today Yen rises, Asia stocks fall ahead of Bank of Japan decision

Tokyo equities were down
Hong Kong - AFP

The yen edged up against the dollar while Tokyo equities dipped in early trade as investors await the end of a crucial Bank of Japan meeting to see if it will ramp up its stimulus programme to inject life into the country's stuttering economy.

With the European Central Bank giving a strong indication it will loosen the reins on monetary policy in December and China last week slashing interest rates, economists are split on whether Tokyo will follow suit.

The meeting comes days after the Federal Reserve dropped a hint that it would raise US interest rates, confounding expectations it would delay a move until the new year owing to weakness in the global economy.

"The key question today is the BoJ and whether they will follow the European Central Bank lead in signalling or even delivering further policy stimulus," Sharon Zollner, a senior economist at ANZ Bank New Zealand Ltd. in Auckland, said in a client note.

"Further stimulus, or a promise thereof, would alter market dynamics, offsetting the Fed normalisation pulse."

After more than two years of huge government spending and BoJ bond-buying stimulus -- pushed by Prime Minister Shinzo Abe -- the Japanese economy is still unable to gain traction and inflation remains anaemic. The tepid readings have brought into question Abe's growth blitz.

On Friday official data showed consumer prices fell in September while household spending also retreated. The figures follow a string of downbeat indicators that have fanned calls for the BoJ to add to the stimulus.

There is speculation the bank will roll back its already lacklustre inflation and growth projections as Japan teeters on the edge of recession.

Kazuhiko Ogata, chief economist of Credit Agricole in Tokyo, told AFP there was a 50 percent chance the BoJ would announce an easing move after the meeting.

- 'Matter of time' -

"Unless the equity market regains momentum, it's a matter of time for the BoJ to take some kind of additional action," he said.

"Last year, the BoJ took action at the end of October, just after a significant collapse in the equity market. A similar case could take place this time around."

In early trade the yen edged up against the dollar and euro. The greenback bought 120.94 yen from 121.10 yen Thursday in New York, while the euro was at 132.78 yen against 132.96 yen.

The dollar, however, held on to most of the previous day's gains that came after the Fed put a rate hike on the table for its last policy meeting of 2015.

The US unit had come under pressure for most of this month after it suggested in September that the world outlook was possibly too weak to withstand a rise in borrowing costs.

Emerging market currencies mostly advanced, having retreated Thursday on the Fed announcement.

The South Korean won gained 0.25 percent, Thailand's baht added 0.20 percent and the Singapore dollar was up 0.17 percent. The Taiwan and Australian dollars also advanced but there were small losses for Indonesia's rupiah and the Malaysian ringgit.

Most stock markets were lower, extending a sell-off Thursday, with Tokyo down 0.11 percent, Hong Kong 0.48 percent off and Sydney down 0.58 percent. Shanghai shed 0.64 percent.

Wall Street provided a soft lead with dealers virtually unmoved by a Commerce Department report showing third-quarter US economic growth slowed to an annual rate of 1.5 percent, in line with expectations, from a 3.9 percent pace in the second quarter. Some aspects of the report were solid, including a 3.2 percent rise in consumer spending.

The Dow edged down 0.13 percent, the S&P 500 ticked 0.04 percent lower and the Nasdaq slipped 0.42 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today yen rises asia stocks fall ahead of bank of japan decision Arab Today, arab today yen rises asia stocks fall ahead of bank of japan decision

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today yen rises asia stocks fall ahead of bank of japan decision Arab Today, arab today yen rises asia stocks fall ahead of bank of japan decision

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday