Asian stocks are likely to open higher on Wednesday, undeterred by a weaker finish on Wall Street overnight, ahead of the release of the Bank of Japan’s (BOJ) rate decision.
“[The BOJ] will stay on hold for the time being, but what we might have is some dovish rhetoric since we are seeing softer inflation expectations in the tankan survey,” Naomi Fink, CEO of Europacifica Consulting, told CNBC. “The BOJ will want to lift those expectations and they might do this with some dovish rhetoric, leaving the door open to easing later in the year.”
Japan’s Nikkei 225 may extend beyond Tuesday’s two-week closing after Chicago and Osaka futures notched up to trade at 19,815 and 19,800, both above the bourse’s previous close of 19,640.
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