TOKYO (AP) – Stocks edged higher in Asia on Friday, with many regional markets closed for mid-autumn holidays. Investors are watching to see if the Bank of Japan opts to ease its lax monetary policy further at a policy meeting next week.
KEEPING SCORE: Japan’s Nikkei 225 index gained 0.6 percent to 16,508.26 and Australia’s S&P ASX 200 added 1.0 percent to 5,295.68. The Sensex in India jumped 1.2 percent to 28,758.51. Shares also were higher in Indonesia and Singapore. Markets were closed in China, Hong Kong, Taiwan and South Korea.
WALL STREET: U.S. stocks climbed Thursday as Apple led a big gain for technology companies and energy companies recovered some of their recent losses. Investors mulled mixed economic reports seeking clues about the Federal Reserve’s intentions and the health of the economy. The Dow Jones industrial average rose 1 percent to 18,212.48. The Standard & Poor’s 500 index also jumped 1 percent, to 2,147.26. The Nasdaq composite gained 1.5 percent to 5,249.69.
BANK OF JAPAN WATCH: Some analysts believe the Bank of Japan may increase asset purchases up to 100 trillion yen a year from the current, or take its negative policy rate to minus 0.3 percent from minus 0.1 percent. But expectations have risen that the central bank will take fresh action to spur growth.
ANALYST VIEWPOINT: “Added to the mix is uncertainty over the Bank of Japan’s next move,” Bernard Aw of IG said in a commentary. “Whatever is the case, market volatility is likely to ratchet up as we head into next week.”