Japanese Shares Advance for Third Straight Session
The Nikkei 225 Index climbed 0.9% to above 64,500 on Thursday, marking its third consecutive session of gains after the US Federal Reserve kept interest rates unchanged as widely anticipated, despite two policymakers dissenting in favor of a rate hike. Investors also assessed mixed earnings results from megacap technology companies, with Alphabet falling short of revenue expectations while Microsoft delivered stronger-than-expected quarterly results. In Japan, market participants are turning their attention to the Bank of Japan’s upcoming policy meeting, where officials are expected to maintain current interest rates while potentially signaling a rate increase in December amid persistent inflationary pressures. Technology stocks remained the main drivers of market gains, with strong performances from Kioxia (8%), Advantest (7.7%) and Ibiden Co (5%). Financial stocks also advanced, including Mitsubishi UFJ (1.7%), Sumitomo Motisui (1.4%) and Mizuho Financial (1.7%).
The Nikkei 225 Index climbed 0.9% to above 64,500 on Thursday, marking its third consecutive session of gains after the US Federal Reserve kept interest rates unchanged as widely anticipated, despite two policymakers dissenting in favor of a rate hike. Investors also assessed mixed earnings results from megacap technology companies, with Alphabet falling short of revenue expectations while Microsoft delivered stronger-than-expected quarterly results.
In Japan, market participants are turning their attention to the Bank of Japan’s upcoming policy meeting, where officials are expected to maintain current interest rates while potentially signaling a rate increase in December amid persistent inflationary pressures. Technology stocks remained the main drivers of market gains, with strong performances from Kioxia (8%), Advantest (7.7%) and Ibiden Co (5%). Financial stocks also advanced, including Mitsubishi UFJ (1.7%), Sumitomo Motisui (1.4%) and Mizuho Financial (1.7%).