Asian stocks fluctuated as investors weighed corporate earnings and the Bank of Japan to refrained from expanding stimulus.
BOJ Governor Haruhiko Kuroda’s board stuck with targeting an annual increase in the monetary base of between 60 trillion yen and 70 trillion yen ($683 billion) in a decision released today.
The MSCI Asia Pacific Index is heading for a 0.4% loss this month amid concern over escalating tensions in Ukraine and a deepening economic slowdown in China.
Japan’s Topix index added 0.1%. Taiwan’s Taiex index lost 0.9% as the nation’s economy expanded 3.04% in the first quarter, in line with economists’ estimates. South Korea’s Kospi index lost 0.2%. Australia’s S&P/ASX 200 Index added 0.1%.
Hong Kong’s Hang Seng Index retreated 1.4% after yesterday jumping by most in three weeks. The Hang Seng China Enterprises Index of mainland stocks traded in the city dropped 1.5%. China’s Shanghai Composite added 0.2%.
New Zealand’s NZX 50 Index jumped 1.6%. Singapore’s Straits Times Index (FSSTI) rose 0.8%. The city’s biggest lenders DBS Group Holdings Ltd. and Oversea-Chinese Banking Corp. climbed after the posted higher earnings as loan margins widened for the first time since 2009.
Chalco slipped 3.5% in Hong Kong. First-quarter loss widened to 2.2 billion yuan ($352 million), from 975 million yuan a year earlier as industry overcapacity caused prices to fall.
Woolworths declined 1.9% after the retailer reported third-quarter total sales from continuing operations of A$15.19 billion ($14.1 billion), missing the median estimate of A$15.33 billion.
Industrial & Commercial Bank of China Ltd. slid 1.5% after the nation’s biggest lender reported its weakest quarterly profit growth in almost five years.
Among shares that rose, DBS gained 1% after first-quarter profit unexpectedly rose. Oversea-Chinese Banking advanced 2.4% after reporting a 29% jump in quarterly net income.
Kyocera climbed 3.4%. Full-year profit increased 34% to 88.8 billion yen from a year earlier.
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