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Home / Business / Asian stocks mixed before the decision of the Bank of Japan; Dollars, yen steady

Asian stocks mixed before the decision of the Bank of Japan; Dollars, yen steady



Meanwhile, the Kospi eliminated early losses by more than 0.04 percent, as profits in manufacturing stocks offset losses suffered by automakers and banks.

Shares of Samsung Electronics Down 0.54 Percent on Smartphone and Chipmaker The company reported an operating profit of 14.9 trillion won (about $ 13.4 billion) in the second quarter, outperforming Reuters own forecast of 14.8 trillion won. Quarterly sales were 58.5 trillion won, largely in line with a previous forecast.

In Australia, the S & P / ASX 200 was marginally higher. The index gained 0.07 percent as financials and materials posted slight gains.

The Hong Kong Hang Seng Index fell 0.44 percent. There was a similar decline in mainland markets, where investors digested the release of the official manufacturing PMI, which missed expectations slightly. The Shanghai Composite fell 0.45 percent and the Shenzhen Composite fell 0.2 percent.

The broad MSCI Asia Pacific Ex Japan Index was 0.21

percent lower in Asian morning trading.

Other companies releasing their results on Tuesday are Standard Chartered and Nintendo.

US equities fell on the first trading day of the week, with strong declines in major technology stocks leading to a 1.39 percent drop in the Nasdaq Composite. The tech-heavy index closed at 7,630 points on Monday, recording a 3-day decline of 3.86 percent, the largest since March.

So-called FANG stocks, which refer to a group of large-cap technology stocks, reported a poor Monday result: Netflix led the decline, falling 5.7 percent and Facebook losing 2.1 percent after its quarterly results and disappointing guidance last week.

Central banks faced investors at the Bank of Japan at its two-day political meeting later in the day. There were earlier reports that the central bank could change its policies to make its program more sustainable and improve the profitability of its banks.

"Together, stronger Yen and higher JGB yields (Japanese sovereigns) triggered speculation The Bank of Japan could adjust its yield curve management policy in today's session, but not everyone is convinced," said Philip Wee, foreign exchange strategist DBS Bank, in a note.

"In the end, the BOJ could simply seek more flexibility in achieving its inflation target than abandon its commitment to monetary incentives," he added.

Meanwhile, the US Federal Reserve's open market committee should start its own monetary policy meeting on Tuesday in the US with a decision due on Wednesday. It is expected that the Fed will keep interest rates stable at the end of their session.

The dollar index, which depicts the dollar against a basket of currencies, was mostly stable after plunging into its last session at 94,371. Against the yen, the greenback changed little before the political decision of the BOJ, which should take place later on Tuesday. The Japanese currency was trading at 9:41 HK / SIN at $ 111.05 against the dollar.


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