The Nikkei 225 index on the Tokyo stock exchange closed the session down 0.43% to 29,520 points. The announcement of the RBA (Reserve Bank of Australia), central bank of Australia, regarding the decision to keep the interest rate target unchanged at a minimum of 0.10%, was the protagonist today in the Asia-Pacific area.
However, the RBA withdrew its strategy to set the target yields for Australian government bonds maturing in April 2024 at 10 basis points.
In doing so, the RBA has virtually abandoned the YCC (yield curve control).
“The decision to discontinue the yield target strategy reflects the improvement in the economy and the progress made, announced ahead of schedule, towards reaching the inflation target,” said RBA Governor Philip Lowe.
The Seoul stock exchange also performed well in Asia, with the Kospi index in solid rise (+ 1.53%), thanks also to the jump of about 3% in the prices of Samsung Electronics.
Little moved the Hang Seng, while the Shanghai stock exchange marks a fall of 1.25%. The Sydney stock market is down by 0.63%.
It should be noted that yesterday Wall Street closed the first session of November in positive territory, testing new records.
The S&P 500 was up 0.18% at the record close of 4,613.67; the Dow Jones Industrial Average advanced 94.28 points to 35,913.84 points, also setting a new record. Closing historical high also for the Nasdaq Composite, up by 0.63% to about 15,595.92.