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CNBC | Asian Markets at Close Report January 22, 2014: Shanghai shares outshine Asia as credit fears ease

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Asian equities were mostly higher on Wednesday with Shanghai leading gains as fears of a credit crunch eased while regional central bank decisions were in focus. The  Bank of Japan (BOJ) left monetary policy steady  at the conclusion of its two-day meting, as widely expected, but some investors were disappointed with the central bank's failure to signal additional easing measures. Attention now turns to the Bank of Thailand's (BOT) policy decision, due at 3:30pm SIN/HK. Most analysts are predicting a rate cut, which comes as a  state-of-emergency was imposed in Bangkok  on Tuesday. News that the IMF slightly  upgraded its global economic growth forecast  to 3.7 percent this year, from 3.6 percent in October, also lifted sentiment. (Read more:   Exotic markets few talk about, but probably should ) Name Price Change %Change NIKKEI Nikkei 225 Index 15820.96 25.00 0.16% HSI Hang Seng Index 23082.25 49.13 0.21% ASX 200 S&P/ASX 200 5319.77 -11.70 -0