Market Report – Asia Stocks Rally on Stimulus Hopes

In today’s market report… Asian stocks rose sharply after the Bank of Japan’s easing moves spurred hopes of a new round of global central bank action.

Regional market investors expect the Federal Reserve and Bank of England to ease policy like the BOJ, which cut interest rates to virtually zero and announced plans to buy a wide range of assets Tuesday.

Excluding Japan, Asian stocks rose to levels not seen since June 2008.

Australian shares led gains in Asia, as resource stocks soared on a higher gold and copper prices.

Top miners BHP and Rio Tinto both rose over 2%, unfazed by the possible scrapping of an iron ore joint venture.

Property stocks soared in Tokyo, after the Bank of Japan said asset purchases would include real estate.

But the strong yen put a damper on gains, with the currency hovering near the 83 level to the dollar.

Hong Kong shares jumped to their highest in nearly 11 months, although China Everbright tumbled on news of a planned new share placement.

In Seoul, the KOSPI hit a 29-month high, led higher by consumer technology exporters and the longest buying-streak by foreign investors since April.

Foto: NTDTV