More regional stocks rose than fell yesterday as the Bank of Japan started a two-day policy meeting and China's money market rates dropped after the central bank pumped funds into the financial system. The MSCI Asia Pacific index was little changed at 139.21 points at 8.36pm in Tokyo , with about three stocks rising for every two that declined. Industrial & Commercial Bank of China climbed 2.7 percent in Hong Kong after the central bank supplied money to banks on Monday to satisfy rising demand for cash before the Lunar New Year . LG Display rose 2.3 percent in Seoul after Merrill Lynch raised its rating on the stock. But Fortescue Metals sank 4.6 percent in Sydney after an iron ore price benchmark fell in China . China's actions "will reduce the credit-crunch fears and assure funding continues to flow into the Chinese economy", Evan Lucas at IG in Melbourne said. "This is further proof that the central bank is monitoring the situation daily." - Bloomberg Pretoria News
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