ASIA-PAC EQUITY UPDATE: Asian stocks traded higher as participants digest an slew of earnings, month-end data and the BoJ policy announcement

Analysis details (06:07)

Asia-Pac stocks were positive as the region took impetus from the rally on Wall St where the S&P 500 and DJIA posted their best daily performance since January as sentiment was fuelled by strong earnings results, while the region also digested a slew of earnings, month-end data releases and the BoJ policy decision. ASX 200 (+0.1%) was initially led higher by outperformance in financials and tech, but then faded most of its gains. Nikkei 225 (+0.9%) was lifted after Industrial Production and Retail Sales topped forecasts, while there was also support after the BoJ kept policy settings unchanged, tweaked its forward guidance which remained dovish and announced to conduct a policy review with a time frame of 1 to 1.5 years. Hang Seng (+0.9%) and Shanghai Comp. (+0.7%) were firmer amid tech strength and an abundance of earnings releases, with sentiment also supported by the PBoC’s liquidity efforts ahead of the 5-day closure in the mainland for Labour Day Golden Week.

28 Apr 2023 - 06:04- Fixed IncomeData- Source: Newsquawk