Shares in Asia are mixed as PM vows more action on Japan’s economy
On Wednesday, Asian shares demonstrated mixed performance, with Tokyo down on comments that hinted further policy action to bolster the Japanese economy.
The Nikkei 225 fell 1.45% as market participants trimmed their positions while waiting for details as Prime Minister Shinzo Abe vowed the country’s government would keep working closely with the Bank of Japan to spur growth and prices.
Besides this, the Shanghai Composite went up 0.11% as investors kept an eye open on liquidity ahead of a major holiday period next week. As for the S&P/ASX 200, it sank 0.01%.
Earlier, Federal Reserve Vice Chair Stanley Fischer told on Tuesday that the American economy has started generating better wages, though he would like to see them going much higher.
However, the former IMF chief economist told his comments were general by nature and when asked regarding the possibility of a no-interest rate economy he told that he dislikes it. He added that the point on rates wasn’t about monetary policy in America.