Nikkei Edges Higher as Investors Bet on BOJ Pause After Fed Cut
Japanese shares closed higher on Thursday as investors extended bullish bets on Asian emerging markets, with expectations that the Bank of Japan will hold rates steady on Friday while markets watch for clues on possible moves later this year.
The Nikkei 225 rose 1.15%, or 513.05 points, to end at 45,303.43.
The Federal Reserve cut its benchmark rate by a quarter point, its first reduction since December, and signaled two more this year, citing labor market weakness after months of White House pressure.
Economists surveyed by Bloomberg expect the Bank of Japan to hold rates steady at its meeting, with most predicting a hike by January but fewer seeing one in October. The decision comes amid Fed easing, political uncertainty following Prime Minister Shigeru Ishiba's resignation, and lingering concerns over U.S. tariffs.
In economic news, Japan's machinery orders fell 4.2% in July from June, reversing a 3% gain, the Cabinet Office said Thursday. Core orders, excluding ships and utilities, dropped 4.6%. Manufacturing orders slid 5.1% while non-manufacturing rose 2.4%.
On the corporate front, Pacific Industrial said Effissimo Capital Management raised its stake to 11.13% from 9.95% as of Sept. 9, according to a Thursday Tokyo bourse filing.
Toa Road said Strategic Capital cut its holding to 9.29% from 10.40%, based on a large shareholding report to the Kanto Local Finance Bureau.
Hogy Medical denied a report it is considering privatization, saying no decision has been made though it continues to review strategic options.
Source : Mtnewswires.com
