Asian stocks rose yesterday as the two-day Bank of Japan policy meeting came to an end. The yen fell against all but one of its 16 major peers after the Bank of Japan failed to signal additional stimulus. The currency dropped to 104.5 per dollar and 141.7 to the euro.
Hong Kong’s benchmark Hang Seng Index increased 0.2 percent and the Shanghai Composite Index jumped 1.7 percent. Benchmark money-market rates fell for a second day in China, as the central bank made more funding available for smaller lenders
The Australian dollar jumped the most in a week after inflation data dimmed rate-cut prospects climbing 0.7 percent against the greenback as of 2:26 p.m. in Tokyo. Australian consumer prices rose faster than economists forecast, reducing the central bank’s scope to cut record-low interest rates.
Thailand’s baht lost 0.2 percent to 32.88 per dollar after bombings and shootings in Bangkok that killed one and injured 70 spurred Prime Minister Yingluck Shinawatra to declare a state of emergency late yesterday. The Bank of Thailand will probably reduce its key interest rate by 25 basis points, or 0.25 percentage point, to 2 percent today, according to the median of 21 economists’ estimates compiled by Bloomberg.
Natural gas futures climbed a second day, adding 0.8 percent as a winter storm bringing heavy snow and frigid weather to the U.S. East Coast stoked demand for the heating fuel. Gas futures traded at $4.468 per million British thermal units in electronic trading on the New York Mercantile Exchange. If the contract settles at that level, it will be the highest closing price since July 2011.