Japan’s Nikkei 225 led gains in the Asia-Pacific region on Friday, buoyed by a surge in Wall Street following the Federal Reserve’s significant rate cut. The Bank of Japan (BOJ) decided to keep its benchmark interest rate steady at around 0.25%, the highest level since 2008, at the conclusion of a two-day meeting.
In August, Japan’s core consumer price index increased by 2.8% year-on-year, matching Reuters estimates and up from a 2.7% rise the previous month. Excluding fresh food and energy, inflation was reported at 2%, compared to 1.9% in July. The Japanese yen strengthened by 0.30% against the U.S. dollar, trading at 142.20.
Meanwhile, China also opted to maintain its key lending rates, with the one-year loan prime rate set at 3.35% and the five-year LPR at 3.85%.
The Nikkei 225 added 1.53% to close at 37,723.91, marking a three-day winning streak. The broader Topix index gained 0.97%, finishing at 2,642.35. Other notable market performances included Hong Kong’s Hang Seng index, which rose by 1.22%, while mainland China’s CSI 300 declined by 0.45%.
In South Korea, the Kospi climbed 0.49% to finish at 2,593.37, and the small-cap Kosdaq increased by 1.19%, closing at 748.33. Australia’s S&P/ASX 200 saw a modest rise of 0.21%, ending the day at 8,209.5.
Overnight, all three major U.S. indexes closed higher, with the Dow Jones Industrial Average rising 1.26% to finish at 42,025.19, crossing the 42,000 mark for the first time. The S&P 500 gained 1.7%, ending at 5,713.64, while the Nasdaq Composite surged 2.51% to close at 18,013.98.
The three major indexes are on track for weekly gains, with the S&P 500 up nearly 1.6% through Thursday’s close, the Dow showing a 1.5% increase, and the Nasdaq leading with a 1.9% rise.
hii Aditi Sahu this side..
As an author and writer specializing in investment and finance , I am dedicated to delivering insightful articles and news stories that inform and engage the investment community . My focus is on providing timely and relevant content that covers market trends , innovative strategies , and key financial development . My goal is to equip investors with the knowledge and insights needed to make informed decisions and succeed in a dynamic financial environment.
aparna