Asian Shares Started A New Month On Firmer Footing On Monday
Asian shares started a new month on somewhat firmer footing on Monday, helped by accommodative monetary policies in Japan and Europe. A rebound in oil prices last week also helped sentiment, though Brent crude fell about 1 percent in early Asia trade. Japan’s Nikkei rose 1.3 percent to a three-week high, extending its gains made on Friday following the Bank of Japan’s decision to introduce negative interest rates with another bold move to stimulate the economy as volatile markets and slowing global growth threaten its efforts to overcome deflation. The BOJ said it would charge for a portion of bank reserves parked with the institution, an aggressive policy pioneered by the European Central Bank (ECB). Earlier in January, the ECB indicated it could cut rates further in March.