The Bank of Japan's (BOJ) decision for negative interest rates has led to outsized gains in global markets
A fresh round of central bank intervention lifted Asian stocks today. The most notable action came from the Bank of Japan (BOJ), which lowered its key interest rate to negative 0.1%. The move sent the yen tumbling -- and Japan's 10-year bond yield to a record low -- with the Nikkei settling with a 2.8% lead. Meanwhile, China's central bank infused markets with an
additional 100 billion yuan and the Shanghai Composite closed with a 3.1% advance. Hong Kong's Hang Seng also added 2.5%, and South Korea's Kospi closed 0.3% higher.
Bourses in Europe are also moving higher at midday. Aside from the well-received news out of Asia and
a strong lead from Wall Street, rising oil futures and an uptick in eurozone inflation are lending to a risk-on attitude. Additionally, banking names across the region are enjoying notable gains. At last check, London's FTSE 100 was 1% higher, with Germany's DAX and France's CAC 40 adding 0.4% and 0.6%, respectively.
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