On March 20, 2023, in Tokyo with cherry blossoms in full bloom, you can see the headquarters of the Bank of Japan (BOJ).
Kazuhiro Nogi | AFP | Getty Images
Asia-Pacific markets were largely trading in a tight range on Friday ahead of the Bank of Japan’s interest rate decision.
Economists polled by Reuters expected the Bank of Japan to maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported that The central bank is considering reducing its holdings of Japanese government bonds.
The Bank of Japan currently aims to purchase approximately 6 trillion yen (approximately US$38.5 billion) of bonds per month, and has informed the market of plans to purchase bonds of 4.8 trillion yen to 7 trillion yen per month.
Japan’s Nikkei 225 Index It opened 0.09% lower, while the Topix was just below its flat line.
South Korea’s Kospi rose 0.14%, the only benchmark index to gain. The small-cap Kosdaq fell 0.36%.
Australia’s S&P/ASX 200 index fell 0.17%.
Hongkong Hang Seng Index Index futures were at 17,964 points, lower than the Hang Seng Index’s last closing point of 18,112.63 points.
Overnight on U.S. stocks, the S&P 500 posted its fourth consecutive gain, setting a record close, as traders weighed more data that suggested inflationary pressures may be easing.
The broader market index rose 0.23% to close at 5,433.74 points; the Nasdaq Index rose 0.34% to close at 17,667.56 points. On Thursday, the S&P 500 and Nasdaq posted their fourth consecutive closing record.
The Dow Jones Industrial Average underperformed, falling 0.17%.
The S&P 500 and Nasdaq hit record highs this week, boosted by the latest data showing signs of cooling inflationary pressures.
—CNBC’s Lisa Kailai Han and Sarah Min contributed to this report.
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