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Central banks were at the forefront of investors, with the Bank of Japan maintaining a stable policy, as expected, and making its policy framework more flexible for the long-term return objective. The BoJ has maintained its target for 10-year government bond yield at around zero percent.
The slight adjustment followed earlier reports that the central bank could modify its policy in order to make its program more sustainable and improve the banks' profitability. "Together, a stronger yen and higher returns from JGB (Japanese government bonds) fueled speculation that the Bank of Japan could adjust its policy of controlling the yield curve at today's meeting. … more flexibility in achieving its inflation target rather than abandoning its commitment to monetary stimulus, "said Philip Wee, FX strategist at DBS Bank, in a note published prior to Announcement of the decision of the central bank at 111.32 to the dollar at 12:22 pm HK / SIN, compared to the levels around the handful of 110.
The joint session in Asia also came after the actions US stocks fell on the first trading day of the week, with sharp declines in key technical names contributing to the Nasdaq Composite.'s drop percentage for the day. The high-tech index closed Monday at 7,630 and recorded a decline of 3.86% over three days, its biggest since March.
FANG shares, referring to a large equity group on Monday, Netflix recorded a 5.7% drop and Facebook lost 2.1% as a result of quarterly results and disappointing forecasts last week.
The Federal Open Market Committee of the Federal Reserve's own monetary policy meeting Tuesday hours US, with a decision due on Wednesday. The Fed should maintain its rates at the end of its session
The dollar index, which tracks the dollar against a basket of currencies, somewhat reduced its losses recorded in the last session to 94.433.
– CNBC's Weizhen Tan contributed to this report.
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