Stocks in Asia Pacific rose on Monday, as the Bank of Japan announced its decision to enhance monetary policy easing.
In Japan, the Nikkei 225 index rocketed 521.55 points, or 2.7%, to 19,783.22, as shares of robot maker Fanuc soared 11.95% following the release of the firm’s financial results for its latest fiscal year.
The Japanese central bank announced a series of measures on Monday to combat the hit on Japan’s economy as a result of the coronavirus pandemic. These included the increase in purchases of commercial paper and corporate bonds and further active buying of Japanese government bonds and treasury discount bills.
The BoJ also kept the short-term policy interest rate target at -0.1% as well as a pledge to keep 10-year Japanese government bond yields around 0%.
The Japanese yen traded at 107.15 per U.S. dollar after touching an earlier low of 107.62.
In Hong Kong, the Hang Seng index recovered 448.81 points, or 1.9%, to 24,820.14.
Oil prices were also watched following recent volatility as concerns rose over weak demand as a result of the economic hit from the global coronavirus outbreak.
In the afternoon of Asian hours on Monday, as international benchmark Brent crude futures fell 5.27% to $20.31 per barrel. U.S. crude futures declined 13.93% to $14.58 per barrel.
The Australian dollar changed hands at $0.6459 after seeing levels below $0.63 last week.
CHINA
In Shanghai, the CSI 300 regained 25.8 points, or 0.7%, to 3,822.77
The moves on the mainland came on the back of an earlier data release which showed industrial profits in China plummeting 34.9%, according to the country’s Bureau of Statistics.
Economic data from China, which was heavily impacted by the coronavirus, have been watched for signs of recovery as the country returned to production following an extended lockdown period earlier in the year.
In other markets
In Korea, the Kospi index restocked 33.76 points, or 1.8%, to 1,922.77.
In Taiwan, the Taiex Index soared 219.91 points, or 2.1%, to 10,567.27
In Singapore, the Straits Times Index surged 31.24 points, or 1.2%, to 2,549.40
In Australia, the ASX 200 gained 78.82 points, or 1.5%, to 5,321.44.
New Zealand markets were closed for ANZAC Day.
