Stocks in Asia were mostly higher Thursday as investors awaited
an expected decision by the European Central Bank to unleash new
stimulus measures.
Australia's S&P ASX 200 was up 0.6%, while the Nikkei Stock
Average was near flat and the Hang Seng Index gained 0.5%. The ECB
announcement comes after Asian markets close for the day.
A proposal from the ECB's executive board calls for bond
purchases of about EUR50 billion ($58 billion) a month that would
last for a minimum of one year, The Wall Street Journal reported.
The proposal suggests bond purchases could amount to at least
EUR600 billion, in line with forecasts that have centered on a
figure of around EUR500 billion or higher.
Crude-oil futures fell 0.8% to $47.41 in Asia trade, pressuring
stocks in Malaysia, which fell 0.3%.
In Japan, shares of Toyota Motor were down 0.7% after the
company retained its crown as the world's largest car company by
sales in 2014, but said it expects to post an overall 1% sales
decline in 2015 as a result of softening demand in Japan.
The Bank of Japan on Wednesday cut its inflation outlook,
raising doubts about a revival of the nation's economy. The Nikkei
slipped 0.5% on Wednesday.
Saumya Vaishampayan contributed to this article.
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