(Bloomberg) — Asian technology shares rose following stellar earnings reports from Microsoft Corp. and Alphabet Inc. overnight. The yen weakened to a fresh 34-year low after the Bank of Japan kept its key interest rate unchanged.
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A gauge of the region’s equities headed for its best week since November, helped by gains in tech giants including Samsung Electronics Co., Taiwan Semiconductor Manufacturing Co. and Tencent Holdings Ltd. Benchmarks in Japan, South Korea, Taiwan and China all advanced.
A weaker yen also supported Japanese equities. The currency reversed initial gains to fall to 156 per dollar, the lowest level since 1990, following the BOJ decision. The BOJ Friday kept the range for its benchmark rate between 0% and 0.1%, according to a statement, as widely expected by economists.
“The BOJ definitely sees an upside risk on inflation,” Peiqian Liu, Asia economist for Fidelity International, said…
