Japan Pops Ahead of BOJ Meeting



Japan’s Nikkei 225 index led gains in Asia-Pacific markets on Monday, while China shares extended gains after data showed its economy kicked off the year on a strong note.

In Japan, the Nikkei 225 index screamed higher 1,032.80 points, or 2.7%, to 39,740.44.

In Hong Kong, the Hang Seng index recovered 16.23 points, or 0.1%, to 16,737.12.

In Asia, the Reserve Bank of Australia is expected to keep its cash rate steady at 4.35% when it concludes its meeting on Tuesday.

In contrast, a Reuters poll expects the Bank of Japan to exit its negative interest rate policy and lift its benchmark rate to 0% from -0.1% when it makes its announcement on Tuesday.

Taiwan stocks gathered steam, with shares of Taiwan Semiconductor Manufacturing Company up 1.9%.

CHINA

In Shanghai, the CSI 300 moved up 33.54 points, or 0.9%, to 3,603.53, ending its sixth straight session in positive territory.

Data showed retail sales and industrial production in China rose more than expected in the first two months of the year. The unemployment rate for cities was 5.3% in February.

In other markets

In Korea, the Kospi index regained 19 points, or 0.7%, to 2,685.84.

In Taiwan, the Taiex index climbed 197.35 points, or 1%, to 19,879.85.

Singapore’s Straits Times Index let go of 13.44 points, or 0.4%, to 3,172.96.

In New Zealand, the NZX 50 subtracted 38.98 points, or 0.1%, to 11,728.01.

In Australia, the ASX 200 gained 5.57 points, or 0.1%, to 7,675.85.



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