Asian shares mixed after BoJ rejigs bond policy

Bangkok Asian shares were mixed on Friday after the Bank of Japan adjusted its bond purchase policy but kept its negative benchmark interest rate unchanged. Tokyo and Sydney slipped, while Hong Kong and Shanghai advanced. US futures were lower and oil prices fell.

Japan’s central bank opted to keep its benchmark interest rate at minus 0.1 per cent but fine-tuned its bond purchases to allow greater flexibility. The Bank of Japan said that extremely high uncertainties for the economy and prices required a more nimble approach than its previous policy. It said it would offer to buy 10-year Japanese government bonds at 1 per cent each business day, instead of the upper limit of 0.5 per cent that was imposed under its ‘yield curve control program.’ The aim is still to keep long-term interest rates near zero percent, it said.