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Asia shares gain with Nikkei up as BoJ keeps policy steady amid dissent

Published 04/08/2015, 12:55 AM
Updated 04/08/2015, 12:56 AM
© Reuters. Nikkei up after BoJ
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Investing.com - Shares in Tokyo gained as the Bank of Japan voted to keep current monetary policy steady on Wednesday, but one board member expressed dissent.

The Nikkei 225 rose 0.65%, while the Shanghai Composite was up 0.12%.

U.S. stocks were lower after the close on Tuesday, as losses in the Utilities, Telecoms and Consumer Services sectors led shares lower.

At the close in New York, the Dow Jones Industrial Average fell 0.03%, while the S&P 500 index lost 0.21%, and the NASDAQ Composite index fell 0.14%.

The Bank of Japan on Wednesday decided by an 8 to 1 vote to leave the bank's policy target unchanged while board member Takahide Kiuchi, who had been opposed to the Oct. 31 easing, called for an even lower stimulative target than the one before the last easing.

Previously, Kiuchi had proposed the BoJ should maintain the high degree of easing only during the two-year period from April 4, 2013 so that it is not overdone. He had also said the policy target before the Oct. 31 easing was "appropriate."

Now that the two-year period is over, Kiuchi proposed that the BoJ should "conduct money market operations and asset purchases so that the monetary base and the amount outstanding of its JGB holdings will increase at an annual pace about ¥45 trillion."

His proposal was again voted down by the rest of the board.

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