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Asian stock indices were exhibiting a mixed trend on Wednesday. The Japanese stock index Nikkei 225 dropped due to the stronger yen. The yen strengthened after the Bank of Japan refrained from boosting stimulus measures. The Bank of Japan will continue to increase the monetary base at a pace of ¥60 trillion to ¥70 trillion per year. Japan’s central bank expects a moderate economic recovery.
Japan’s trade deficit was ¥808.9 billion in April, compared to a deficit of ¥1,714.2 billion in March. Analysts had forecasted a deficit of ¥640.0 billion.
Chinese stock indices rose due to speculation that state-linked investors are purchasing equities and expectations of market reforms in the coal sector.
Indexes on the close:
Nikkei 225 14,042.17 -33.08 -0.24%
Hang Seng 22,836.52 +1.84 +0.01%
Shanghai Composite 2,024.95 +16.83 +0.84%
Lenovo Group Ltd. shares climbed 2.6% after reporting a rise in full-year profit.
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