FXStreet (Mumbai) - The Japanese benchmark equity index Nikkei ended the day with a 1.9% loss after the Bank of Japan announced additional measures to offset the closure of another program that began in 2002. Confusion reigned supreme for a few minutes The index clocked a high of 19,869.08 levels in an immediate reaction to the BOJ’s announcement of the new ETF program and extension of JGB purchases maturity to 7-12 years. However, the real picture that came out a few minutes later showed the pace of expansion of the BOJ’s balance sheet stays pretty much unchanged. The additional JPY 300B in annual ETF purchases beginning in April has been announced to offset a program that started in 2002 to buy financial shares. The shares purchased are scheduled to be sold over a period of ten years starting from April next year. Still, the BOJ did offer a minor easing - the bond maturity extension, but this is a far cry from the BOJ’s previous easing programs. Furthermore, speculation is on the rise that the BOJ will hold fire next year as there were three dissenting votes against more easing. The BOJ also announced a program that shall begin in April, which makes traders think that The BOJ would stay pat at least till April. Consequently, the stock market fell into losses, while the Japanese Yen regained poise across the board. For more information, read our latest forex news.