Japanese Equities Open Higher as Cooling U.S. Inflation Eases Rate-Hike Fears
Japanese shares climbed in Wednesday morning trading, tracking gains on Wall Street overnight after U.S. inflation came in well below forecasts, easing fears of Federal Reserve rate hikes. The Nikkei 225 rose 246.2 points or 0.4% to open at 67,989.74. However, despite inflation missing forecasts, Fed Chair Kevin Warsh reaffirmed the central bank's commitment to curbing rising prices, adding that policymakers will not tolerate sustained inflationary pressure. At home, sentiment among major Japanese manufacturers held steady in July, with the Reuters Tankan manufacturing index unchanged at +13 points, according to the latest survey data released Wednesday. The reading missed the consensus forecast of +14 tracked by Trading Economics and marked the 16th consecutive month that sentiment was positive among manufacturers in Japan. Elsewhere, oil prices ticked up following Washington's move to reinstate a maritime blockade near Iranian shores.
Japanese shares climbed in Wednesday morning trading, tracking gains on Wall Street overnight after U.S. inflation came in well below forecasts, easing fears of Federal Reserve rate hikes.
The Nikkei 225 rose 246.2 points or 0.4% to open at 67,989.74.
However, despite inflation missing forecasts, Fed Chair Kevin Warsh reaffirmed the central bank's commitment to curbing rising prices, adding that policymakers will not tolerate sustained inflationary pressure.
At home, sentiment among major Japanese manufacturers held steady in July, with the Reuters Tankan manufacturing index unchanged at +13 points, according to the latest survey data released Wednesday.
The reading missed the consensus forecast of +14 tracked by Trading Economics and marked the 16th consecutive month that sentiment was positive among manufacturers in Japan.
Elsewhere, oil prices ticked up following Washington's move to reinstate a maritime blockade near Iranian shores.