Asian stocks mostly up while Euro sinks

Shares in Asia gained on expectations the ECB will expand monetary stimulus.

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By :  ,  Financial Analyst

Asian markets were mixed today (January 5th) on growing expectations that the European Central Bank (ECB) will take new stimulus measures. 

The euro tumbled as low as $1.1865 early Monday, the lowest since March 2006, after the head of the ECB stated in an interview with German newspaper Handelsblatt that deflation was a threat and the central bank needs to be prepared to counter it. 

But the risk that the central bank will not be able to move inflation higher "has increased compared to six months ago (…) and the ECB is currently technically preparing to adjust the size, speed and composition of our measures at the start of 2015, should it become necessary," ECB President Mario Draghi said.

Hong Kong's Hang Seng added 0.5 per cent at 23,976.04 and Japan's Nikkei rose 0.3 per cent to 17,498.58. China's Shanghai Composite was up 1.5 per cent to 1,044.09, while Australia's S&P/ASX 200 remained flat.

Learn about the Asian markets and CFD trading at City Index.

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