SYDNEY : Asian markets breathed a sigh of relief on Friday as the incoming head of Japan's central bank soothed fears of an early end to super-easy monetary policy, nudging bond yields lower globally.Kazuo Ueda, who will take over as governor of the Bank of Japan (BOJ) in April, began three hours of speak
SYDNEY : Asian markets breathed a sigh of relief on Friday as the incoming head of Japan's central bank soothed fears of an early end to super-easy monetary policy, nudging bond yields lower globally.
"There have been high hopes that Ueda will bring a hawkish twist to the BOJ, but early remarks in his confirmation speech say anything but," said Matt Simpson, senior market analyst at City Index. "Overall Ueda is working hard to present himself as delivering continuity - at least to start with," said Sean Callow, senior currency strategist at Westpac."Now is not the time to put his own stamp on policy; that's not why the government selected him."
Chinese blue chips fell 0.4 per cent and Hong Kong's Hang Seng Index dropped 0.9 per cent while Australia's resources-rich shares edged up 0.2 per cent. Overnight, strong data, including an unexpected fall in new claims for unemployment and a revised uptick in the fourth-quarter PCE price index, suggested some strength in the economy.
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