TOKYO, Japan (Reuters) — Asian shares held near eight-month high on Thursday (July 14) as investors bet the Bank of England will cut rates in a pre-emptive strike to ward off a recession following the country’s decision to leave the European Union.
Japanese Prime Minister Shinzo Abe also called for fiscal stimulus, expected to reach about two percent of GDP, following his election victory on Sunday (10).
Japan’s benchmark Nikkei opened at 16,242.20 up 10.77 points, while the broader Topix rose 0.87 points to 1,301.13.
South Korean shares opened slightly lower with the Korea Composite Stock Price Index (KOSPI) down 0.09 percent at 2,003.84 points.
