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Asian Shares Hit 2013 Lows; Nikkei Slides As Bank OF Japan Disappoints by patric iawell
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Asian Shares Hit 2013 Lows; Nikkei Slides As Bank OF Japan Disappoints |
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Finance & Investment
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Nikkei slips as Bank of Japan avoids taking new steps to curb JGB (Japanese Government Bonds) volatility MSCI (Morgan Stanley Capital International) Asia ex-Japan falls to 6-1/2-month lows American dollar slipped against Yen after BOJ (Bank of Japan) held off from taking fresh steps to curb bond market volatility, whereas Asian stocks dropped to fresh 2013 low as China continued uncertainty and growth worries over United States bond-purchasing program depressed sentiment. BOJ kept financial policy steady and held off on taking further steps to control any future spike in bond yields today, judging that current stock market turbulence has yet to pose brutal damage to recovery prospects of the economy. Nikkei average fell 0.7% and US dollar declined 0.4% against Yen to 98.33 Yen. JGB (Japanese Government Bond) yields had spiked currently and were hit by volatile trading after Bank Of Japan introduced its radical stimulus measures on 4th April. Mr. Hideo Kumano, Chief Economist at Dia-ichi Life Research Institute stated Haruhiko Kuroda, Bank of Japan Chief might also have thought there is no need to be nervous about the volatility of stock market, hoping to determine more effect of bond-purchasing program of BOJ for now. Solid United States jobs data and S&P (Standard & Poor’s) raising the rating outlook of US from negative to stable on the back of enhanced economy kept alive speculation about eventual softening of strong commitment of Fed to quantitative easing. International commodity and equity markets have been jolted currently by Fed stimulus concerns, slowing China growth, the deep turbulence in Japanese bonds and stocks and slump in Europe. Bond volatility of Japan has declined, enabling the authorities to return their attention to Japanese Yen and stock markets. Continued speculation over Fed tapering dampens sentiment Yen rises, Nikkei slips as Bank of Japan avoids taking new steps to curb JGB (Japanese Government Bonds) volatility MSCI (Morgan Stanley Capital International) Asia ex-Japan falls to 6-1/2-month lows American dollar slipped against Yen after BOJ (Bank of Japan) held off from taking fresh steps to curb bond market volatility, whereas Asian stocks dropped to fresh 2013 low as China continued uncertainty and growth worries over United States bond-purchasing program depressed sentiment. BOJ kept financial policy steady and held off on taking further steps to control any future spike in bond yields today, judging that current stock market turbulence has yet to pose brutal damage to recovery prospects of the economy. Nikkei average fell 0.7% and US dollar declined 0.4% against Yen to 98.33 Yen. JGB (Japanese Government Bond) yields had spiked currently and were hit by volatile trading after Bank Of Japan introduced its radical stimulus measures on 4th April. Mr. Hideo Kumano, Chief Economist at Dia-ichi Life Research Institute stated Haruhiko Kuroda, Bank of Japan Chief might also have thought there is no need to be nervous about the volatility of stock market, hoping to determine more effect of bond-purchasing program of BOJ for now. Solid United States jobs data and S&P (Standard & Poor’s) raising the rating outlook of US from negative to stable on the back of enhanced economy kept alive speculation about eventual softening of strong commitment of Fed to quantitative easing. International commodity and equity markets have been jolted currently by Fed stimulus concerns, slowing China growth, the deep turbulence in Japanese bonds and stocks and slump in Europe. Bond volatility of Japan has declined, enabling the authorities to return their attention to Japanese Yen and stock markets.
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