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Japan Reverses Losses After BOJ Decision

Asia-Pacific markets were mixed after the Bank of Japan kept its benchmark interest rate unchanged on Friday, but indicated it’s considering the reduction of its purchase of Japanese government bonds.

In Japan, the Nikkei 225 index regained 94.09 points, or 0.2%, to 38,814.56.

The central bank left short-term rates unchanged at between 0% to 0.1% as widely expected, but said it could reduce its purchases of Japanese government bonds after the next monetary policy meeting, scheduled for July 30 and 31.

The BOJ currently aims to purchase about six trillion yen ($38.5 billion U.S.) in bonds per month, and has informed the market of plans to purchase between 4.8 trillion yen and seven trillion yen of bonds per month.

Following the BOJ decision, the Japanese yen weakened 0.64% to 158.03 against the U.S. dollar, while the yield on 10-year JGB rose marginally to 0.943% recovering from declines earlier in the session.

In Hong Kong, the Hang Seng index dipped 170.85 points, or 0.9%, to 17,941.78, to rebound from a near two-month low and finish at 3,541.53.

In other markets

In Shanghai, the CSI 300 rose 15.4 points, or 0.4%, to 3,541.53

In Korea, the Kospi index forged ahead 3.53 points, or 0.1%, to 2,758.42.

In Taiwan, the Taiex index leaped 192.68 points, or 0.9%, to 22,504.72.

In Singapore, the Straits Times Index inched down 26.98 points, or 0.8%, to 3,297.55.

In New Zealand, the NZX 50 eased 7.75 points, or 0.1%, to 11,864.90.

In Australia, the ASX 200 fell 25.47 points, or 0.3%, 7,724.26.