Japanese Stocks Rise on Optimism Following China Stimulus Announcement
The Nikkei 225 index rose 0.3% to above 39,200, while the broader Topix index gained 0.4% to 2,745 on Tuesday, extending gains from the previous session.
The rally was driven by optimism following China’s announcement of “more proactive” fiscal measures and “moderately” loose monetary policy, which boosted market sentiment across the region.
Japanese stocks also defied a selloff on Wall Street overnight, with major U.S. technology names facing pressure. At home, investors are eyeing business sentiment data later this week to gauge the health of the Japanese economy.
Market expectations remain divided over the timing of the Bank of Japan’s next interest rate hike, with forecasts ranging between December and January.
Among the big players, major index players Toyota Motor (+1.5%), Sony Group (+2.7%) and Kawasaki Heavy Industries (+2.3%) posted strong gains.
Source: Trading Economics
