Asian Stocks Rise, Markets Hold Breath Awaiting Bank of Japan's Move
Asia-Pacific stock markets opened higher on Friday, as investors awaited a key decision from the Bank of Japan (BOJ). Markets expect the BOJ to raise interest rates to 0.75%, the highest level since 1995. LSEG data shows an 86.4% chance of a rate hike, amid efforts to curb inflation, which has long been above target.
This rate hike has the potential to strengthen the yen against the US dollar and help curb inflationary pressures. The latest Japanese government data showed consumer inflation fell to 2.9% in November, while core inflation remained at 3%, in line with economists' forecasts. On the stock market, the Nikkei 225 index rose 0.56% and the Topix index strengthened 0.57%, while the Australian, South Korean, and Hong Kong stock markets also moved positively.
Positive sentiment also came from Wall Street overnight. The S&P 500 index managed to end a four-day decline thanks to lower-than-expected US inflation data and strong performance by technology stocks. The Nasdaq Composite jumped 1.38%, while the Dow Jones Industrial Average closed slightly higher, providing additional support for Asian markets. (az)
Source: Newsmaker.id
