2015.01.2203:21:13UTC+00Asian stocks fluctuate ahead of ECB stimulus decision

Asian stocks swung between gains and losses ahead of the European Central Bank meeting amid bets of stimulus from the policy talks.

The MSCI Asia Pacific Index shed 0.1% to 134.46 in the early morning trade in Tokyo. The Topix Index shed 0.1% to 1,389.43 at the end of trade in Tokyo. The trend showed that for every nine shares dropping, seven climbed. The Nikkei 225 Stock Average fluctuated before settling higher, rising by 0.3% or 48.54 points to 17,329.02. Hong Kong’s Hang Seng China Enterprises Index climbed by 0.2% to 12,046.90. The Shanghai Composite Index inched up by 0.49% or 16.25 points to 3,339.85. Hong Kong’s Hang Index rose by 0.73% or 178.74 points to 24,531.32 while the CSI 300 Index was steady. Australia’s S&P/ASX 200 rose by 0.49% or 26.56 points to 5,419.94 while South Korea’s KOSPI Index inched down by 0.02% or 0.41 points to 1,920.82.

Japan’s benchmark index dropped ahead of the European Central Bank decision later today. Chinese stocks in Hong Kong reaches a one-week high on bets of a government stimulus to bolster economic growth.

Japan’s Softbank boost by 2.8% as it tracked US unit Sprint Corp. which added 5.5%. Bridgestone Corp. fell by 1.7% while Fukuoka Financial Group Inc. tumbled by 3.3%. In China, Jiangxi Copper Co. along with PetroChina Co. rose by at least 1.4% in Hong Kong. Meanwhile, China Vanke Co. along with Poly Real Estate Group Co. rose by at least 3% in Shanghai. China CNR Corp. was the biggest laggard among train companies in the mainland. Tomorrow, Chinese manufacturing data will be released.

The European Central Bank will meet later today. Market participants are betting that the central bank will add stimulus in a bond-purchase program worth 550 billion euro or $639 billion to be announced by ECB head, Mario Draghi.

Meanwhile, US stocks advanced for a third consecutive day led by energy shares ahead of the European Central Bank meeting.

The Dow Jones Industrial Average added 0.22% or 39.05 points to 17,554.28 with UnitedHealth pacing blue-chip gains while IBM led blue-chip declines. The S&P 500 rose by 0.47% or 9.57 points to 2,032.12. The Nasdaq Composite climbed by 0.27% or 12.58 points to 4,667.42. The trend showed that for every five shares declining, approximately nine climbed. The New York Stock Exchange witnessed 771 million shares change hands while composite volumes went beyond 3.7 billion. The fear gauge of investors or the CBOE Volatility Index shed 5.2% to 18.85.