The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023.
Kazuhiro Nogi | Afp | Getty Images
Asia-Pacific markets were largely range bound on Friday ahead of the Bank of Japan’s rate decision.
Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported the central bank is considering reducing its holdings of Japanese government bonds.
The BOJ currently aims to purchase about 6 trillion yen ($38.5 billion) in bonds per month, and has informed the market of plans to purchase between 4.8 trillion yen and 7 trillion yen of bonds per month.
Japan’s Nikkei 225 was down 0.09% at the open, while the Topix was marginally below the flatline.
South Korea’s Kospi was up 0.14%, the only benchmark in positive territory. The small cap Kosdaq was 0.36% lower.
Australia’s S&P/ASX 200 fell 0.17%.
Hong Kong Hang Seng index futures were at 17,964, lower than the HSI’s last close of 18,112.63.
Overnight in the U.S., the S&P 500 rose to post a fourth consecutive record close as traders weighed more data showing inflation pressures may be easing.
The broad market index climbed 0.23% to end at 5,433.74, while the Nasdaq Composite advanced 0.34% and closed at 17,667.56. Thursday marked the fourth straight closing record for both S&P 500 and the Nasdaq.
The Dow Jones Industrial Average was the underperformer, slipping 0.17%.
The S&P 500 and Nasdaq hit record levels this week, boosted by fresh data showing signs of inflation pressures cooling.
—CNBC’s Lisa Kailai Han and Sarah Min contributed to this report.