The Bank of Japan shocked the markets on Thursday after deciding against extra monetary easing measures to stimulate the country’s flagging economy.

Japanese shares fell and the yen surged 2 percent against the dollat at 109.33 yen. The Nikkei 225 index finished up 3.6 percent lower at 16,666.05.

The Bank of Japan introduced negative rates in January, which has thus far had little effect on the economy, with few people choosing to spend or invest more.

Markets suffered from the news across Asia, with the Shanghai Composite falling 0.5 percent and Hong Kong’s Hang Seng remaining flat at 21,384.61.

28/04/2016