adminWith few catalysts driving action, eyes are moving to today’s policy decision by the Bank of Japan to see if it adds to the huge stimulus measures unveiled earlier this month as part of a drive to kick start the economy.
Tokyo added 0,60 percent, or 82,62 points, to 13 926,08, while Seoul gained 0,84 percent, or 16,29 points, to 1 951,60.
Hong Kong ended 0,98 percent, higher, adding 218,19 points to 22 401,24, but Shanghai fell 0,86 percent, or 19,01 points, to 2 199,31.
Sydney and Wellington were closed for a public holiday. Investors were unable to add to Wednesday’s healthy advances after the weak US lead.
On Wall Street the Dow fell 0,29 percent, while the S&P 500 and Nasdaq were flat after weak earnings from AT&T and Procter & Gamble.
Adding to selling pressure was data showing US durable goods orders plunged 5,7 percent from February, which comes after recent figures pointing to weakness in the world’s largest economy. Tokyo’s Nikkei managed to edge out a positive close by lunch, continuing to rally on the back of a soft yen.
However, the dollar dipped on Thursday, still unable to break the 100 yen barrier last seen in April 2009.
In Seoul traders were cheered by data showing the economy grew at its fastest pace in two years during the January-March quarter.
The 0,9 percent expansion compared to 0,3 percent in the final quarter of 2012 and was the strongest growth rate since January-March 2011 and is likely to dent expectations of a central bank interest rate cut later this year.
In other markets Singapore rose 0,45 percent or 15points to close at 3 337,21.
DBS Bank was up 1,25 percent at Sg$16,18 and real estate developer Capitaland was 2,58 percent higher at Sg$3.58. Taipei finished flat, dipping 1,96 points to 8 021,75. — AFP.
Peter Tanyanyiwa
Online Reporter