Asian stocks rise on BoJ statement

The Bank of Japan decided to leave its monetary stimulus intact.

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By :  ,  Financial Analyst

Asian stocks were up today (April 8th) after the Bank of Japan (BoJ) said it would keep its massive monetary stimulus intact. The central bank also stated that the country's economy is recovering "moderately".

Japan posted a current account surplus of 1,440.1 billion yen (£8 billion) in February, the biggest in more than three years, on lower oil prices and a weaker yen.

The country's main index had risen in anticipation of the statement and held its gains after the BoJ decision was announced. The benchmark Nikkei 225 rose 0.8 per cent to close near a 15-year high at 19,789.81.

Meanwhile, Chinese shares hit another seven-year high, with banks up on hopes of further policy support. The benchmark Shanghai Composite index closed up 0.84 per cent at 3,994.81.

Australia's S&P/ASX 200 added 0.6 per cent at 5,960.70. Hong Kong's Hang Seng soared 3.8 per cent to 26,236.86 after a five-day long weekend. South Korea's Kospi climbed 0.6 per cent to 2,059.26.

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