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Asia Higher on New BoJ Chief’s Meeting

Asia-Pacific markets were largely higher on Thursday as investors focus on the Bank of Japan’s first policy meeting led by new BOJ governor Kazuo Ueda.

Ueda is expected to maintain the ultra loose monetary policy of predecessor Haruhiko Kuroda for now, but expectations are that he will plot a path out of this policy in the future, according to media reports.

In Japan, the Nikkei 225 jumped 41.21 points, or 0.1%, to 28,457.68.

In Hong Kong, the Hang Seng index hiked 83.01 points, or 0.4%, to 19,840.28.

Korean markets gained even as electronics giant Samsung Electronics posted a 94% year-on-year drop in operating profit for the first quarter.

Singapore markets fell after news overnight that the country will increase stamp duties on property purchases, with the largest increases going to property purchases by foreigners.

In other markets,

In Shanghai, the CSI 300 lost 11.88 points, or 0.4%, to 3,988.42

In Korea, the Kospi regained 10.98 points, or 0.4%, to 2,495.81.

In Taiwan, the Taiex Index gained 36.86 points, or 0.2%, to 15,411.49.

In Singapore, the Straits Times Index dipped 11.88 points, or 0.4%, to 3,282.03.

In New Zealand, the NZX 50 shed 16.76 points, or 0.1%, to 11,918.22.

In Australia, the ASX 200 dropped 23.55 points, or 0.3%, to 7,292.75.