Asian shares edged up on Friday : 31 Oct 2015

Asian shares edged up on Friday, on track for their biggest monthly rise since January 2012 but headed for weekly losses as investors fretted about the possibility United States interest rates could still rise this year. Japanese shares slipped briefly and then regained their composure, while the yen rose after the Bank of Japan held policy steady. The BOJ kept monetary policy steady as most had expected, but some investors had speculated the central bank would deliver some additional steps to support Japan's economy, and many still expect it to eventually deliver more easing. "The BOJ will probably wait to see whether the Fed may move in December, before deciding to ease further," said Hiromachi Shirakawa, chief economist at Credit Suisse Securities Japan. "As such I expect further easing by the BOJ may come in January at the earliest but it will more likely to happen in April. The BOJ will release new long-term economic and price forecasts in its semiannual outlook report due at 3:00 p.m. (0600 GMT), and BOJ Governor Haruhiko Kuroda will hold a news conference at 3:30 pm to explain the policy decision. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent, poised to lose 2.1 per cent for the week but gain nearly 8 per cent for October. Japan's Nikkei was down 0.6 per cent right after the BOJ decision, but rebounded and was last up 0.2 per cent, on track for a hefty monthly gain of 9.1 per cent. Data released before the Tokyo market opened underscored how far the BOJ has to go to approach its 2 per cent inflation target, with Japan's core consumer prices falling 0.1 per cent in the year to September, for their second straight month of declines.
Asian shares edged up on Friday : 31 Oct 2015 Asian shares edged up on Friday : 31 Oct 2015 Reviewed by Money99 on 13:37:00 Rating: 5

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