Investing.com - Most Asian stocks are trading higher Tuesday, flirting with the highest levels in 19 months after the release of meeting minutes by the Bank of Japan indicate more monetary easing could be right around the corner.
In Asian trading Tuesday, Japan’s Nikkei 225 gained 0.35% after BoJ deputy governor nominee Kikuo Iwata said before parliament that more monetary easing is needed. Those comments follow remarks made by Haruhiko Kuroda, the nominee to be the next BoJ governor, made on Monday where he said the bank’s current asset-buying program is not enough to reach Japan’s desired 2% rate of inflation.
In Japanese economic news, Japan’s Ministry of Finance said the country’s Business Index Survey unexpectedly rose in the fourth quarter to a seasonally adjusted annual rate of -4.6, from -10.3 in the third quarter. Analysts expected a fourth-quarter reading of -6.2.
In a separate report, Bank of Japan said that Japan’s Corporate Goods Price Index rose to a seasonally adjusted annual rate of -0.1% in February from -0.2% in January. That was inline with analysts’ expectations.
Another report issued by METI said that Japanese tertiary industry activity index fell to a seasonally adjusted -1.1% in February from 1.4% in the prior month. Analysts expected the index to fall to -0.1% last month.
Hong Kong’s Hang Seng added 0.46% while the Shanghai Composite rose 0.42%.
Australia’s S&P/ASX 200 fell 0.1% report released by National Australia Bank showed Australia’s business confidence index fell to 1 last month from 3 in January. Australia releases home loan data tomorrow and analysts are expecting an increase on that front. AUD/USD was trading to the upside while AUD/JPY was found at multi-year highs.
New Zealand’s NZSE 50 fought off the weakness in Aussie shares to trade higher by 0.22%. South Korea’s Kospi fell 0.26% while Singapore’s Straits Times Index climbed 0.68%. S&P 500 futures fell 0.32% a day after the benchmark U.S. index rose 0.32%.
In Asian trading Tuesday, Japan’s Nikkei 225 gained 0.35% after BoJ deputy governor nominee Kikuo Iwata said before parliament that more monetary easing is needed. Those comments follow remarks made by Haruhiko Kuroda, the nominee to be the next BoJ governor, made on Monday where he said the bank’s current asset-buying program is not enough to reach Japan’s desired 2% rate of inflation.
In Japanese economic news, Japan’s Ministry of Finance said the country’s Business Index Survey unexpectedly rose in the fourth quarter to a seasonally adjusted annual rate of -4.6, from -10.3 in the third quarter. Analysts expected a fourth-quarter reading of -6.2.
In a separate report, Bank of Japan said that Japan’s Corporate Goods Price Index rose to a seasonally adjusted annual rate of -0.1% in February from -0.2% in January. That was inline with analysts’ expectations.
Another report issued by METI said that Japanese tertiary industry activity index fell to a seasonally adjusted -1.1% in February from 1.4% in the prior month. Analysts expected the index to fall to -0.1% last month.
Hong Kong’s Hang Seng added 0.46% while the Shanghai Composite rose 0.42%.
Australia’s S&P/ASX 200 fell 0.1% report released by National Australia Bank showed Australia’s business confidence index fell to 1 last month from 3 in January. Australia releases home loan data tomorrow and analysts are expecting an increase on that front. AUD/USD was trading to the upside while AUD/JPY was found at multi-year highs.
New Zealand’s NZSE 50 fought off the weakness in Aussie shares to trade higher by 0.22%. South Korea’s Kospi fell 0.26% while Singapore’s Straits Times Index climbed 0.68%. S&P 500 futures fell 0.32% a day after the benchmark U.S. index rose 0.32%.