Tuesday, 13 November, 2018

Japan's central bank makes policy adjustment as inflation target remains far-flung

A pedestrian looks at a quotation board displaying the Nikkei key index from the Tokyo Stock Exchange in 2016 A pedestrian looks at a quotation board displaying the Nikkei key index from the Tokyo Stock Exchange in 2016
Laurie Berry | 02 August, 2018, 18:22

The Japanese central bank has also chose to change the composition of its purchases of exchange-traded funds, by buying more Topix-related ETFs while reducing the purchase of Nikkei index-linked funds.

Wall Street stocks also closed down on the tech sell-off, which included Microsoft MSFT.O as another big decliner.

In Hong Kong, the Hang Seng fell 150.12 points, or 0.5%, to 28,583.01.

Automakers were mixed, with Toyota edging down 0.84 percent to 7,430 yen and Nissan gaining 0.47 percent to 1,060 yen. "Europe's higher weighting to banks/resource will help it vs the U.S".

"There's a lot of money and speculation piled into the FAANG stocks, and now that money is coming out", said Wayne Kaufman, chief market analyst at Phoenix Financial Services in NY.

Industrials, energy and materials led gainers on Wall Street, with Caterpillar CAT.N raising its full-year outlook after second-quarter earnings almost doubled and beat expectations, helped by robust global demand for its equipment. Those yields recorded the highest close since January 2016 last week.

The pound dipped 0.05 percent to $1.3102.

Yields had been testing 0.1. percent for days and some investors expected more hawkish change from the BOJ.

With Japanese monetary policy still seen stimulatory, the dollar will likely climb to 112.50 yen in the short-term and could challenge the 113-yen barrier, according to Nick Twidale, Sydney-based analyst at Rakuten Securities Australia.

Wait, WHAT? Looks like Jack and Dani are getting MARRIED next year
During their time on the series, they made their romance official, professed their love and chose to move in together. And it seems their romance is going from strength to strength as Jack has promised he will marry Dani next year.

In commodities, US crude fell 35 cents to $69.78 a barrel after a sharp rally overnight while Brent fell 36 cents to $74.61. The euro tumbled last week after the European Central Bank reaffirmed that rates would stay low through next year's summer.

The U.S. dollar index.DXY, which measures the greenback against a basket of six currencies, was up 0.19 percent at 94.504, as investors await the end of the Federal Open Market Committee meeting. The benchmark 10-year Japanese government bond dropped five basis points after the announcement.

Australian indexes were also flat, with the energy sub-index leading gains.

Following a two-day policy meeting, the Japanese central bank made a decision to maintain its target level for the yield on the 10-year government bond at around zero percent, but said the yield "may move upward and downward to some extent".

Japan's benchmark 10-year yield sank four basis points to 0.062%, the lowest in more than a week.

The central bank's quarterly report "left little doubt about the policy bias, noting "risks to the price outlook are skewed to the downside, ' 'more time will be needed" to hit 2 percent and the risk of destabilizing the financial system from a continued low rate environment 'are not significant for now, '" said Sue Trinh, head of Asia FX strategy at RBC Capital Markets.

Gold steadied ahead of this week's Fed meeting, which could give clues about the outlook for US interest rates and the dollar, key factors for precious metals prices. 10-year JGB yields fell to 0.05% yesterday and have jumped to 0.13% now.

USA gold futures GCcv1 for August delivery settled down $1.70 at $1,221.30 per ounce.

Recommended

Chelsea set to focus all efforts on signing world-class striker Chelsea set to focus all efforts on signing world-class striker He is a great footballer who has already achieved a lot in the Bundesliga, has scored many goals and will now score many goals in the new season".

Samsung Galaxy Note 9 Will Launch at a 'Reasonable Price', Says Company Samsung Galaxy Note 9 Will Launch at a 'Reasonable Price', Says Company The Samsung Galaxy Note 9 is expected to be one of Samsung's most expensive devices, crossing the $1000 mark for the first time. It has the biometric sensor right beside the camera lens and many device owners touched it leaving sweaty smudges all over it.

Islamic State claims powerful bomb attack in southern Philippines Islamic State claims powerful bomb attack in southern Philippines Presidential spokesman Harry Roque condemned the bombing as a "war crime", calling it "an illegal use of force, even in times of armed conflict".

Trader Joe’s, Kroger, and Walgreens Recall More Than 2 Dozen Products Trader Joe’s, Kroger, and Walgreens Recall More Than 2 Dozen Products The summer has been rife with recalls and reported cyclospora infections, especially in IL . Caito Foods LLC and FSIS are working together to remove the products from commerce.

Elon Musk apologizes for behavior on infamous Tesla earnings call Elon Musk apologizes for behavior on infamous Tesla earnings call It was the last financial update before the second half of the year, when Musk had vowed the company would be profitable. That's less of a burn than analysts expected, and it means Tesla is under less pressure to seek more financing.

Zimbabwe Protesters Killed as Nation Awaits Presidential Election Results Zimbabwe Protesters Killed as Nation Awaits Presidential Election Results This was the first time western observers were allowed to monitor the democratic process in Zimbabwe for nearly two decades. The press conference has started, with the remaining parliamentary results being read out.

Indonesia Invites North Korea's Kim Jong-un to Asian Games Indonesia Invites North Korea's Kim Jong-un to Asian Games The Asian Games, co-hosted by the cities of Jakarta and Palembang, are expected to see a further cementing of that partnership. National anthems of the United States and South Korea were played, and the caskets were given a 21-gun salute by USA riflemen.

McFarlane Toys To Release Lots Of Fortnite Collectibles This Fall McFarlane Toys To Release Lots Of Fortnite Collectibles This Fall Fortnite is now played by more than 125 million people and the Android release is expected to give it a lot more traction. However, Epic Games , the developer behind the game, may not be releasing the game on the Play Store for Android.

Police case filed against Mamata Banerjee after ‘civil war, bloodbath’ remark Police case filed against Mamata Banerjee after ‘civil war, bloodbath’ remark She accused the Centre of harassing people by calling them infiltrators. "I invited them to participate in the rally in Kolkata". The TMC supremo later went to the Central Hall of the Parliament to meet other opposition leaders and invited them to the rally.

Former WWE star Brian Christopher found dead in prison cell Former WWE star Brian Christopher found dead in prison cell "Corrections officers administered CPR until paramedics arrived", TBI shared in a statement obtained by the magazine. In 2000, Too Cool would win the WWE Tag Team titles for the first and only time, defeating Edge and Christian.

Tommy Robinson wins appeal over contempt sentence, will be released Tommy Robinson wins appeal over contempt sentence, will be released There was also a "muddle over the nature of the contempt being considered" and "the process was flawed", the judges added. At a hearing in July, Robinson's QC Jeremy Dein argued procedural "deficiencies" had given rise to "prejudice".

Trump Calls for Photo ID for Voting at Florida Rally US president Donald Trump has falsely claimed you need to show photo identification to buy groceries in his country. And he also endorsed Governor Rick Scott for Senate .

Jos Buttler looks to follow Virat Kohli example against India Jos Buttler looks to follow Virat Kohli example against India They are both match-winning players. 'Trashing a great England captain and superb batsman doesn't go down well. Meanwhile Buttler added a Test series with India was nearly as important to England as the Ashes.

Tristan Thompson fought Draymond Green at Los Angeles club earlier this month Tristan Thompson fought Draymond Green at Los Angeles club earlier this month The details of what went down between the two players are somewhat inconsistent across these reports. Others downplayed the whole scene to The Athletic . "Man, that wasn't no fight", one source said.

Google Clock Gets Spotify Integration for Custom Alarms You will able to select between two tabs for picking alarm sounds: Regular alert tones, and Spotify music. This new feature will be available to all devices running at least Android 5.0 Lollipop .