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Asia gains as investors bet on BoJ stimulus; Nikkei up 0.27%

Stock MarketsSep 18, 2012 10:47PM ET
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Investing.com - Asian stocks traded higher on Wednesday as investors went long anticipating the Bank of Japan will announce plans to stimulate its economy.

During Asian trading on Wednesday, Hong Kong's Hang Seng Index was up 0.22%, Australia's S&P/ASX200 was up 0.27%, while Japan’s Nikkei 225 Index was up 0.27%.

The Bank of Japan may announces its latest monetary policy decision later Wednesday, and many investors took up long equity positions on sentiment the Japanese monetary authority will roll out stimulus programs to weaken the yen and boost its economy.

Meanwhile in the U.S., official data showed the current account deficit narrowed more than expected in the second quarter, falling to USD117.4 billion from a deficit of USD133.6 billion in the previous quarter, which was bullish for global stocks.

Analysts were expecting a USD125.5 billion deficit.

A separate report showed that U.S. net purchases of long-term assets rose to USD67.0 billion in July from USD9.3 billion in June, beating expectations for an increase to USD45.3 billion.
Uncertainty in Europe continued to dampen the rally.

Spain has not made it clear if it will take the necessary steps to allow the European Central Bank to buy its sovereign bonds and lower borrowing costs, which kept trading cautious.

In Hong Kong, top gainers included China Unicom, up 2.57%, HK & China Gas, up 1.48%, and China Hang Lung Properties, up 1.37%.

In Australia, top gainers included Murchison Metals, up 19.05%, APN News & Media, up 9.37%, and Karoon Gas Australia, up 6.88%.

European stock futures indicated a mixed opening.

France's CAC 40 futures pointed to a gain of 0.13%, while Germany's DAX 30 futures pointed to a gain of 0.04%. Meanwhile in the U.K., FTSE 100 futures indicated a loss of 0.04%.

Dow Jones Industrial Average futures were up 0.01% while the S&P 500 futures were up 0.07%.








Asia gains as investors bet on BoJ stimulus; Nikkei up 0.27%
 

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