Asian Equities Higher Again After Draghi Unveils Stimulus

Asian stocks rose, with the regional benchmark index set for its first weekly advance in three weeks, after European Central Bank President Mario Draghi unveiled an expanded stimulus plan.

The MSCI Asia Pacific Index (MXAP) added 0.2 percent to 140.1 as of 9:00 a.m. in Tokyo. The gauge is headed for a 1.9 percent gain this week, with Japanese shares poised to post their first weekly gain this year. The ECB kept benchmark rates at record lows and announced an expanded asset-purchase program, including private and public securities, of up to 60 billion euros ($68 billion) a month through September 2016.

“It’s quite pleasing to see them coming out with force,” said Nader Naeimi, who helps manage about $125 billion as Sydney-based head of dynamic asset allocation at AMP Capital Investors. “Market expectations were high and Draghi managed to surprise even the highest of expectations. It should help to stabilize European growth.”


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.