Overseas Trading: Tokyo Turns Higher as Bank of Japan Holds Steady

Tokyo stocks settled higher, even as the Bank of Japan stood pat on monetary policy

Oct 30, 2015 at 8:33 AM
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Tokyo-listed stocks bucked a generally bearish trend in Asia today, even as the Bank of Japan opted against ramping up its stimulus efforts. Instead, in a post-meeting press conference, BOJ Governor Haruhiko Kuroda said policymakers "won't hesitate" to implement further easing measures if the inflation outlook should change significantly. Across the region, makers of personal care products and infant goods rallied after China confirmed it will end its one-child policy, while beleaguered Citic Securities rallied in Shanghai after its latest quarterly report. By the close, though, most markets followed Wall Street's negative lead. While Japan's Nikkei closed up 0.8%, China's Shanghai Composite slipped 0.1%, South Korea's Kospi lost 0.2%, and Hong Kong's Hang Seng gave up 0.8%.

European markets are modestly lower at midday, with downbeat earnings once again setting the tone. Spain's Banco Bilbao, France's L'Oreal, and Britain's Royal Bank of Scotland are among the notable names trading lower after their quarterly results. At last check, London's FTSE 100 is off 0.4%, the French CAC 40 is down 0.3%, and Germany's DAX is 0.2% lower.

Overseas markets 1030

 

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