Japanese Stocks Rise on Lower US PPI Data
The Nikkei 225 index rose 0.1% to around 38,510, while the broader Topix index rose 0.5% to 2,695 on Wednesday, ending a four-day losing streak. The gains came after weaker-than-expected US producer inflation data provided some relief to equities. However, investors remained cautious ahead of US consumer inflation data, which could influence the Federal Reserve’s monetary policy outlook.
In Japan, a private survey showed a rebound in manufacturer sentiment in January, driven mainly by improving conditions in the materials industry. At the same time, speculation is growing that the Bank of Japan may hint at further interest rate hikes at its next meeting, keeping investors on guard. Notable performers came from major index players such as Mitsubishi UFJ (up 1.2%), Keyence (up 3.7%) and Nintendo (up 2.3%).
Source: Trading Economics