Yen Plunges, Yields Surge as Japan Scraps Yield Cap; Asia Braces for Busy Day of Economic Data

Japan's currency and bond markets saw dramatic moves after the Bank of Japan scrapped its 10-year yield ceiling. The yen plunged while yields surged.

Asian markets' reaction to the U.S. Federal Reserve policy decision will come on Thursday. Before then, China, India, Indonesia, South Korea economic data is due.

China's Caixin PMI report will draw attention after 'official' PMI showed unexpected contraction in October. Yuan remains near 16-year lows.

World and U.S. stocks ended October higher but it was a rough start to Q4. Asian stocks fell for a third straight month in October.

Investors hope for some respite in November after tightening financial conditions in Q4 so far. Key China, Indonesia, South Korea data due Wednesday.