Economics
Asian Stocks Maintain Wednesday's Gains Ahead of BOJ Decision
- Investors await Bank of Japan after Fed sees economic risks
- Equities in Japan and China slump while Hong Kong advances
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Asian stocks held Wednesday’s gains as investors awaited the Bank of Japan’s decision on monetary policy after the Federal Reserve said unstable markets may pose risks to the U.S. economy. Equities fell in Tokyo and Shanghai while Hong Kong rallied.
The MSCI Asia Pacific Index slipped less than 0.1 percent to 119.51 as of 4:32 p.m. in Hong Kong, after swinging between a drop of 0.6 percent and gains of 0.3 percent. The regional gauge pared losses in late afternoon trading as crude rebounded from its declines. The index jumped 1.4 percent Wednesday, yet is still heading for a 9.5 percent slump this month on concern about a slowdown in China and a rout in oil and other commodities.