Japanese shares sold off and the yen surged against the dollar Thursday after the Bank of Japan's (BOJ) decision to keep monetary policy steady disappointed a section of the market betting on further stimulus.
The benchmark Nikkei 225 closed down 624.44 points, or 3.61 percent, at 16,666.05, compared with a 1.41 percent gain before the decision. The Topix index finished down 43.75 points, or 3.16 percent, at 1,340.55.
The yen moved sharply higher, with the dollar/yen pair dropping 2.97 percent to 108.14 as of 3:15 p.m. HK/SIN, compared with the 111 level it traded at before the decision.
Australia's ASX 200 closed up 37.69 points, or 0.73 percent, at 5,225.40, boosted by advances in the energy and materials sub-indexes. In South Korea, the Kospi fell 14.47 points, or 0.72 percent, at 2,000.93. In Hong Kong, the Hang Seng index traded flat as of 3:15 p.m. HK/SIN.