Market Overview

Asian Stocks Closes Mostly Higher, While Europe Trades In The Red


Asian stocks were mostly higher on Thursday, led by Japan's Nikkei index that gained 2.70 percent.

Bloomberg reported that Japan's stock market likely gained on positive commentary that the Bank of Japan will likely increase their asset purchase program at next week's meeting on monetary policy.

Mitsubishi Motors Corp. plunged by the maximum amount allowed to 583 yen after the automaker admitted to manipulating fuel-economy tests and data.

Japan's gains extended throughout most of Europe as Hong Kong's Hang Seng index gained 1.82 percent, Australia's ASX index gained 1.05 percent, Taiwan's TSEC index gained 0.64 percent and India's Mumbai Sensex index gained 0.14 percent.

China's Shanghai index lost 0.66 percent.

European stocks were mostly in the red with more than four hours of trading remaining. The European central bank will announce a rate decision at 7:45 AM ET with a news conference to shortly follow.

The broad Euro Stoxx index was trading lower by 0.06 percent.

The UK's FTSE index and France's CAC index were both lower by more than 0.50 percent. Germany's DAX index fared slightly better and was lower by 0.39 percent.

The price of a barrel of crude was nearly unchanged at $44.22, while gold futures for April delivery were higher by 0.53 percent.


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