Nikkei Rebounds After Boj Statement
The benchmark Nikkei stock index has reacted positively to the Bank Of Japan's statement -- suggesting Governor Haruhiko Kuroda's words have encouraged some investors.
The statement said the central bank will strive to provide ample liquidity and ensure stability in financial markets through appropriate operations and asset purchases.
Shortly after 11 a.m., the Nikkei stood at 21,243 points, up 100 from last week's close.
Meanwhile, data just out of China show negative signs for manufacturing. The February Caixin Purchasing Managers' Index plunged to 40.3, down nearly 11 points from the previous month. That's well below market expectations.
A reading of 50 separates positive from negative territory.
Last week, the Dow Jones Industrial Average suffered a weekly loss of more than 3,500 points. Investors dumped equities amid fears about the outbreak's economic impact.
On Friday, Federal Reserve Chairman Jerome Powell threw markets a potential lifeline. He signaled that the central bank could cut interest rates to support the US economy.
