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Stock market today: Asian shares are mixed after Bank of Japan ups key rate for 1st time in 17 years

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Shares are mixed in Asia after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy. The BOJ raised the overnight call rate to a range of 0 to 0.1%, up from minus 0.1%. Tokyo's Nikkei 225 index rose 0.4% while Chinese shares fell. On Monday, the S&P 500 added 0.

Stock market today: Asian shares are mixed after Bank of Japan ups key rate for 1st time in 17 yearsFILE - A person stands in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, March 18, 2024, in Tokyo. Shares are mixed in Asia after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy.CORRECTS TO 1.

Chinese markets declined. Hong Kong’s Hang Seng index lost 1.2% to 16,526.98, while the Shanghai Composite index dropped 0.7% to 3,064.56.Australia’s S&P/ASX 200 added 0.4% to 7,703.20 after Australia’s central bank kept its benchmark interest rate steady at 4.35% for a third consecutive meeting. The widely expected decision reflected the fact that inflation is cooling but still above the Reserve Bank of Australia’s target.

The S&P 500 added 0.6% on Monday to 5,149.42, coming off its first back-to-back weekly losses since October. A frenzy around artificial-intelligence technology on Wall Street has sent the stocks of Nvidia and other players zooming so high that critics call it a bubble. Nvidia has grown into the U.S. stock market’s third-largest stock.

 

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