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Asian shares slipped after touching a near one-year peak on Friday, while Japanese stocks tumbled and the yen strengthened as the Bank of Japan's fresh stimulus measures disappointed markets.
The BOJ modestly increased purchases of exchange-traded funds, but maintained its base money target at 80 trillion yen ($775 billion) and the pace of purchases of other assets, including Japanese government bonds.
The central bank also held at 0.1 percent the interest it charges to a portion of excess reserves financial institutions leave with the central bank.
Japan's Nikkei, which swung between gains and losses right after the announcement, was last trading down 1.5 percent. The index, which touched a seven-week high last week, was on track for a 2.4 percent weekly drop, shrinking gains for July to 4.2 percent.
The dollar weakened 1.9 percent to 103.27 yen, its biggest one-day decline since June 24, after the UK's decision to leave the European Union.
U.S. crude futures fell to as low as $40.95 per barrel and were last down 0.2 percent at $41.08. It's set for a drop of 7 percent for the week and 14.9 percent in July
Asia, Japan shares fall, yen rises as BOJ stimulus disappoints | Business Standard News
The BOJ modestly increased purchases of exchange-traded funds, but maintained its base money target at 80 trillion yen ($775 billion) and the pace of purchases of other assets, including Japanese government bonds.
The central bank also held at 0.1 percent the interest it charges to a portion of excess reserves financial institutions leave with the central bank.
Japan's Nikkei, which swung between gains and losses right after the announcement, was last trading down 1.5 percent. The index, which touched a seven-week high last week, was on track for a 2.4 percent weekly drop, shrinking gains for July to 4.2 percent.
The dollar weakened 1.9 percent to 103.27 yen, its biggest one-day decline since June 24, after the UK's decision to leave the European Union.
U.S. crude futures fell to as low as $40.95 per barrel and were last down 0.2 percent at $41.08. It's set for a drop of 7 percent for the week and 14.9 percent in July
Asia, Japan shares fall, yen rises as BOJ stimulus disappoints | Business Standard News