Market Report – Nikkei Rebounds on BOJ

In today’s market report… Tokyo stocks rebounded, while the yen and Australian dollar fell Tuesday after unexpected policy moves by their respective central banks.

The Bank of Japan eased interest rates further to between zero and 0.1 percent, and said it would set aside $420 billion to buy government bonds and other assets to support the economy.

Consumer electronics exporters led gains in Japan, as the yen weakened by nearly half a percent.

Separately, the Reserve Bank of Australia also surprised the markets by keeping rates on hold, despite resilient jobs and retail sales data this morning.

The Australian currency slipped to a near one-week low, and stocks pared losses, although gains were limited by expectations of future hikes.

Weaker resources prices also weighed on the All Ordinaries.

Other Asian markets slipped Tuesday.

Lower chip prices, Samsung Electronics‘ comments about weak LCD prices, and a Microsoft downgrade led to a sell-off in Taiwan’s technology shares.

Samsung shares weighed on Seoul’s KOSPI.

Hong Kong stocks pulled back from a ten-month high, with property counters leading falls at the midday break.

Foto: NTDTV