Asian stocks traded in positive territory overnight, finding steady ground following yesterday’s worse than expected Chinese export data. Asian shares were lifted after the Bank of Japan maintained record monetary easing. The BOJ kept a pledge to expand the monetary base at a pace of 60 trillion to 70 trillion yen per year. However, the bank lowered its view of exports and lifted forecasts of industrial output and investment.
Gold climbed overnight as investors took to the metal following continued escalating tensions in Ukraine and prospects of reduced stimulus in the US. WTI was trading near the lowest price in more than three weeks amid speculation that crude stockpiles expanded in the US.