Asian Stock Market News - Bank Of Japan's Decision

Asian shares poised for best month since Jan 2012

Bank Of Japan

Asian shares edged higher on Friday and were on track for their biggest monthly rise since January 2012, as global central banks kept stimulative policies intact and many hinted at further steps to re-energize their economies.

European shares were set to open on the bright side, with financial spreadbetters expecting Britain's FTSE 100 .FTSE to open as much as 0.3 percent higher, Germany's DAX .GDAXI 0.6 percent, and France's CAC 40 .FCHI 0.4 percent.

The Nikkei stock index .N225 slipped briefly after the Bank of Japan stood pat and then regained its composure to end up 0.8 percent at a more than two-month high, buoyed by a media report that the government is considering a supplementary budget of over $25 billion.

The Nikkei rose 1.4 percent for the week and jumped 9.7 percent for the month, the best monthly gain in two years.

The BOJ's decision to keep monetary policy steady was in line with most expectations, but some investors had speculated the central bank would deliver some additional steps to support Japan's economy. 

The BOJ also trimmed its price and growth forecasts on Friday, and many still expect it to eventually deliver more easing.

"The BOJ will probably wait to see whether the Fed may move in December, before deciding to ease further," said Hiromachi Shirakawa, chief economist at Credit Suisse Securities Japan.