Asia-Pacific stock indexes are mostly rising on Friday, the exception is the South Korean indicator.
Traders are assessing the statistical data and the results of the Bank of Japan meeting.
The Japanese Central Bank left unchanged the main parameters of the monetary policy (MP) on the results of the two-day meeting that ended on Friday, which became the first for the new head of the Central Bank Kazuo Ueda.
The short-term interest rate on commercial bank deposits at the Central Bank remained at minus 0.1% per annum, the target yield on ten-year government bonds – about zero, according to a statement from the Japanese Central Bank.
Bank of Japan also retained the range within which the yield of ten-year government bonds may fluctuate – plus/minus 0.5%.
At the same time, the phrase about the Central Bank’s intention to keep the rate at the current level or lower was missing from the text of the statement on the results of the meeting. This is a phrase the Bank of Japan has been repeating since October 2019.
At the same time, the central bank reiterated that it is ready to keep its stimulative policy until inflation stabilizes at the 2% target level.
In addition, the Bank of Japan announced its intention to revise its monetary policy, the results of which will be published in 12-18 months.
Statistics released Friday showed a 13th straight month of improvement in the country’s retail sales, as well as an increase in industrial production and an unexpected jump in unemployment.
Japan’s Nikkei 225 stock index gained 1% in trading. Toyota Motor gained 1.3 percent, SoftBank Group gained 2.3 percent and Denso Corp. – Denso Corp. by 4.3%, Daikin Industries by 2.8% and Ana Holdings by 2.2%.
China’s Shanghai Composite stock index added 0.7 percent in trading Friday, while Hong Kong’s Hang Seng gained 0.6 percent.
The leaders of the growth both in mainland China and Hong Kong are shares of technology companies, rising due to strong quarterly reports of U.S. IT-giants.
Kunlun Tech soared almost 20% in trading in Shenzhen. Shares of BlueFocus Intelligent gained 17%, Dawning Information Industry gained 5.2%, and 360 Security Technology gained 4.8%.
In Hong Kong, shares of BYD Electronic (+6.7%), Haier Smart Home (+5.9%), Semiconductor Manufacturing International (+2%), NetEase Inc. (SPB: NTES) (+3.2%) gained.
The value of China Tourism Duty Free Corp. securities fell 0.15% during trading. The company’s net income fell 10% in the first quarter as its expenses grew faster than revenue.
Australia’s S&P/ASX 200 is adding 0.24% and South Korea’s KOSPI is losing 0.02%.
South Korean industrial production fell 7.6% in March compared to the same month last year. In February the index decreased by 8%.
