The turmoil triggered by the Bank of Japan’s recent interest rate hike has produced two more entries for the record book: All time highs for both inflows and outflows in the nation’s stocks last week. Global investors were net buyers of Japanese stocks in the week ending Aug. 9 as trading recovered from an historic … Read more
Tokyo’s key 225-issue Nikkei index gained nearly 3% on Friday after U.S. stocks rallied on the back of encouraging consumer data. The Nikkei stock average jumped 2.88%, or 1,057.76 points, to 37.784.40 in early trade, while the broader Topix index climbed 2.25%, or 58.39 points, to 2,659.14. “The Japanese market is expected to follow the … Read more
Japanese electric motor maker Nidec raised its full-year operating profit forecast by 4.3% on Tuesday off the back of a recovery in demand for hard drive motors amid efforts to raise its profitability and a weaker yen. The company raised its expectations for operating profit in the financial year to the end of March 2025 … Read more
The dollar was stable on Wednesday on wagers the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks. The dollar was also lifted by rising Treasury yields after a lacklustre debt auction for sales of two-year … Read more
Japan’s decision to jettison negative interest rates is rich in symbolism. Deflation, which dogged the economy for a generation, has been dispatched. Workers are finally enjoying meaningful wage increases. Policymakers are no longer required to be defensive when they explain their country’s outlook. After a few false dawns, the nation has climbed out the hole … Read more
Asian stocks slumped on Friday, tracking tech-led declines on Wall Street overnight after hotter-than-forecast U.S. inflation knocked back bets for how soon and often the Federal Reserve will cut interest rates. U.S. benchmark bond yields held near the 4.3% level they reached on Thursday for the first time this month, following their biggest jump in … Read more
SINGAPORE: The dollar was steady on Friday after data showed US inflation remained sticky but is easing gradually, keeping hopes alive that the Federal Reserve will start cutting interest rates in June, while the yen stumbled back to the key 150 per dollar level. Bitcoin’s blistering rally took a breather and was last at $61,400, … Read more
Finance Minister Shunichi Suzuki said there will likely come a time when the country’s interest rates will begin to rise and affect the economy through various channels, according to an interview with the Nikkei newspaper published Saturday. “The Bank of Japan holds jurisdiction over monetary policy. But there will be a phase when interest rates … Read more
Duty-free sales at department stores in Japan roughly tripled from the previous year to ¥348.4 billion in 2023, the highest level since comparable data began in 2015, before the COVID-19 pandemic, the Japan Department Stores Association said Thursday. The rise reflected the weak yen, as well as an increase in the number of foreign visitors … Read more
MUMBAI: The rupee stayed range-bound and settled 2 paise (provisional) higher at 83.13 against the US dollar on Wednesday. Forex traders said the rupee is trading in a narrow range as positive domestic markets and a soft US dollar supported the rupee while rising crude oil prices and foreign fund outflows capped gains.At the interbank … Read more