Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from global markets overnight, as traders reacted positively to the dollar tumbling and bond yields moving sharply lower after news of the bond market intervention from the Bank of England. Asian Markets closed mostly lower on Wednesday.
The BoE decided to intervene in the bond market by purchasing long-dated U.K. government bonds to address dysfunction in the gilt market. The BoE also postponed the selling of bonds held under the quantitative easing program to October 31.
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