Investing.com - Most Asian bourses traded higher Wednesday as traders await the conclusion of the Bank of Japan’s two-day monetary policy meeting.
In Asian trading Wednesday, Japan’s Nikkei 225 rose 1.17%. Earlier Wednesday, Japan’s Finance Ministry said the country’s trade deficit widened to a larger-than-expected 879.9 billion yen in April. Exports rose 3.8% to 5.78 trillion yen, but imports increased 9.4% to 6.66 trillion yen.
BoJ kicked off a two-day meeting Tuesday and most traders export the central bank will stick with current monetary policy. The meeting will be followed by press briefing by BoJ Governor Haruhiko Kuroda.
Media and entertainment giant Sony surged 9.1% on rumors that the company is considering a spin-off of its entertainment division, a suggestion made by a U.S. hedge fund manager earlier this month.
Hong Kong’s Hang Seng was flat while the Shanghai Composite inched up 0.01%.
Australia S&P/ASX 200 Index rose 0.1% despite a slack consumer confidence report out of the world’s 12th-largest economy. Consumer confidence there fell 7% this month to 97.6, according to a Westpac Banking and Melbourne Institute survey. That is the biggest drop since December 2011 and the first time since October 2012 the figure has fallen below 100.
Readings below 100 indicate more consumers are pensive than are feeling optimistic. Some traders see the consumer confidence data as evidence Australians are concerned about the country’s inability to return to a budget surplus this fiscal year.
New Zealand’s NZSE 50 rose 0.73% as NZD/USD traded lower.
South Korea’s Kospi gained 0.50% to bring its one-month gain to just over 3%. Singapore’s Straits Times Index climbed 0.44%.
S&P 500 futures inched down 0.01% a day after the benchmark U.S. index added 0.17%.