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Asian stock indices closed higher the Bank of Japan's interest rate decision. The Bank (BoJ) decided to increase its monetary base target to an annual increase of ¥80 trillion, up from ¥60-70 trillion, and to boost exchange-traded fund purchases to ¥3 trillion. This decision was not expected by analysts.
News said that the Japanese government approved plans by the Government Pension Investment Fund to raise the holding of foreign stocks to 25% from 12%.
Japan's national consumer price index (CPI) rose 3.2% in September, exceeding expectations for a 3.0% gain, after a 3.3 increase in August.
Japan's national CPI excluding fresh food increased 3.0% in September, in line with expectations, after a 3.1% rise in August.
Tokyo's CPI climbed 2.5% in October, after a 2.9% rise in September.
Tokyo's CPI excluding fresh food gained 2.5% in October, in line with expectations, after a 2.6% increase in September.
Household spending in Japan dropped at annual rate of 5.6% in September, missing forecasts of a 4.0% decrease, after a 4.7% fall in August.
Japan's unemployment rate rose to 3.6% in September from 3.5% in August, in line with expectations.
Indexes on the close:
Nikkei 225 16,413.76 +755.56 +4.83%
Hang Seng 23,998.06 +296.02 +1.25%
Shanghai Composite 2,420.18 +29.10 +1.22%
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