Asian Equities Struggle as BOJ Holds Steady

Asian shares turned lower on Wednesday, while a stronger yen weighed on Tokyo stocks after the Bank of Japan held policy steady as expected.

Investors stayed cautious before the outcome of the Federal Reserve’s policy meeting later in the session as well as key U.S. jobs data on Friday, and against a backdrop of continuing tension in Ukraine.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent, erasing early gains but still on track for a monthly rise of over 1 percent.   Hong Kong’s Hang Seng index slumped 1.2 percent as investors locked in gains from a late-afternoon surge on Tuesday that sent it up more than 1 percent in the final hour before the close.

Reuters

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