European shares were higher Wednesday after a mixed session in Asia in the absence of major data releases.
A currency trader walks by the screens showing the foreign exchange rates at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Dec. 21, 2022. Shares were mixed in Asia on Wednesday after a modestly higher close on Wall Street as concerns over pressures on global growth tempered gains in the absence of major data releases. –
Tokyo’s benchmark Nikkei 225 index slipped 0.7%, to 26,387.72, a day after the Bank of Japan gave in to pressure on the yen by expanding the cap on the yield of the 10-year Japanese government bond to 0.50%. It had been 0.25%.The Japanese central bank has kept its key lending rate at minus 0.1% for years, trying to spur growth by keeping credit ultra cheap.
“Ultimately, the BOJ is reacting to a dysfunctioning bond market and a weakening yen. But the move also represents the fall of one of the last central bank hold-outs of ultra-low rate policy," Stephen Innes of SPI Asset Management said in a commentary. In other Asian trading, Hong Kong's Hang Seng gained 0.3% to 19,160.49 and the Shanghai Composite index slipped 0.2% to 3,068.41.
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