Asia Markets: Asian markets mostly gain, shaking off ECB easing

Asian currencies were hit Friday by a perceived easing by the European Central Bank, even as the Asian stock market reaction was mostly positive.

Japan’s Nikkei NIK, +1.42% was up 1.1%, Australia’s S&P/ASX 200 XJO, +0.31% gained 0.3% and Taiwan’s Taiex Y9999, +0.18% was up 0.1%.

The ECB said Thursday it would extend its bond-purchase program by nine months to the end of 2017, but cut its monthly purchases to €60 billion from €80 billion, as of April.

The ECB action mixed tightening and loosening measures, but market chose to focus on the extension of the asset-purchase program, known as quantitative easing (QE).

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