Asian stocks surge on BOJ move; Gold at record high
Business
Asian stocks surge on BOJ move; Gold at record high
Asian shares rallied on Wednesday a day after the Bank of Japan unexpectedly cut interest rates and pledged to buy assets worth $60 billion to keep the economy from faltering. Global markets also scaled higher on hopes that the Federal Reserve and the Bank of England will take similar steps, while gold prices hit a new record high, touching $1,344.20 per ounce on bolstered optimism. Japans Nikkei jumped 1.3%. Hong Kongs Hang Seng, which briefly rose above the 23,000 mark, was up 1.3% and Australias ASX advanced 1.5% led by resources sector. Indias Sensex gained 0.9%. China remained shut for holiday.
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