Asian markets are gained ground Friday, riding a wave of positive investor sentiment from Wall Street’s higher close on Thursday.
Shanghai’s SSE climbed 3.1 percent while Hong Kong’s Hang Seng rose 2.6 percent.
Tokyo’s Nikkei 225 gained 2.8 percent after the Bank of Japan stunned the market with a surprise measure of introducing a negative interest rate of 0.1 percent to revive the country’s economy. In response, the yen is weakening against the dollar by 1.5 percent.
“We think the BOJ intended to cause a strong announcement effect on the forex market in particular, by implementing the measure Governor Kuroda had explicitly denied the idea of resorting to until now, when financial markets remaining volatile and macro data poor. The Bank said it is prepared to lower the interest rate further into negative territory if it decided this was necessary,” Goldman Sachs economist Naohiko Baba wrote in a research distributed Friday.
Alibaba’s shares rallied Thursday after the company reported 32 percent surge in revenue for the quarter ending Dec. 31, beating expectations.