Japan Stocks Swing as Insurers Drop, Communications Shares Rise

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Japanese stocks swung between gains and losses as insurers fell and communication stocks rose amid speculation the European Central Bank will stimulate growth through asset purchases.

The Topix slipped 0.1 percent to 1,388.76 as of 9:07 a.m. after rising less than 0.1 percent. The Nikkei 225 Stock Average added 0.2 percent to 17,312.

The ECB announces it policy decision later today. An Executive Board proposal foresees asset purchases of as much as $1.3 trillion through the end of 2016, according to two euro-area central-bank officials who have seen the document.

The Bank of Japan kept its target for the monetary base unchanged yesterday after it boosted an already unprecedented bond-buying program in October. The central bank cut its inflation forecast for fiscal 2015 to 1 percent from 1.7 percent previously amid plunging oil prices.

Source : Bloomberg