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Indonesia News Portal for Traders | Financial & Business Updates

18 September 2024 15:19  |

Japanese Shares Climb As Yen Strengthens Ahead of Fed Rate Decision

Japanese shares closed higher on Wednesday, lifted by gains in the yen as the US dollar remained weak ahead of the Federal Reserve's interest rate decision.

The Nikkei 225 added 0.49%, or 176.95 points, finishing at 36,380.17.

The dollar retraced a third of its Tuesday gains after a surprise rise in US retail sales for August. Robust online purchases mitigated a drop in auto receipts, suggesting economic resilience and reducing the likelihood of aggressive Fed easing.

Attention now shifts to Friday's Bank of Japan policy decision, where no change in rates is anticipated, though further hikes may be considered.

In economic updates, Japan's exports climbed 5.6% to 8.441 trillion yen in August, while imports rose 2.3% to 9.137 trillion yen, narrowing the trade deficit by 26% to 695.29 billion yen, according to preliminary Ministry of Finance data.

Source: MT newswires

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