Japanese Shares Gain After Fed Decision
The Nikkei 225 Index climbed 0.6% to around 39,600, while the broader Topix Index gained 0.5% to 2,756 on Friday, marking their highest levels in over three weeks after the US Federal Reserve cut interest rates by 25 basis points, further fueling the post-election rally.
Investors were also looking ahead to potential stimulus announcements from China, as the National People’s Congress Standing Committee wrapped up its five-day meeting. Domestically, data revealed that Japanese household spending in September declined, though at a slower pace than anticipated by the market.
Notable performers included index heavyweights such as Mitsubishi Heavy Industries (+3.4%), Lasertec (+1.8%), IHI Corp (+1.6%), SoftBank Group (+4%), and Fast Retailing (+1.4%). Both the Nikkei and Topix indexes are on track to gain around 4% for the week.
Source: Trading Economics
