The Nikkei 225 fell 1.45% to close at 42,649, while the broader Topix dropped 1.1% to 3,058 on Thursday, as Japanese stocks pulled back from record highs amid profit taking. The market had rallied earlier in the week after softer US inflation data boosted expectations for a Federal Reserve rate cut next month. A strong earnings season in Japan and an improving global trade outlook also added to bullish sentiment. On the policy front, the Bank of Japan faces mounting pressure to abandon an inflation gauge tied to domestic demand and wage growth that has so far restrained further...
Hong Kong shares added 53 points or 0.2% to 25,659 in Thursday's morning session, rising for the fourth day to a three-week high. Sentiment was lifted by record closes for Wall Street's S&P 500 and Nasdaq for the second day overnight, as traders increased bets on a US Fed rate cut next month. Meantime, Treasury Secretary Bessent called for a series of cuts, starting with a 50bps move in September. In China, Beijing pledged interest subsidies for businesses in eight consumer service sectors to boost spending. Further strength, however, was capped by growing caution ahead of July activity...
The Nikkei 225 fell 0.5% toward 43,000, while the broader Topix dropped 0.9% to 3,065 on Thursday, as Japanese stocks pulled back from record highs amid profit taking. The market had rallied earlier in the week after softer US inflation data boosted expectations for a Federal Reserve rate cut next month. A strong earnings season in Japan and an improving global trade outlook also added to bullish sentiment. On the policy front, the Bank of Japan faces mounting pressure to abandon an inflation gauge tied to domestic demand and wage growth that has so far restrained further...
Asian stocks traded in a narrow range at Thursday's open, easing after three days of gains driven by bets on a Federal Reserve interest rate cut next month. The MSCI Asia Pacific Index fell 0.2% as stocks in Japan retreated 1%. The yen gained 0.4% against the dollar. US Treasury Secretary Scott Bessent said the Bank of Japan is falling behind the curve in addressing inflation and expected the central bank to hike rates. Chinese equities will be in focus after the Nasdaq Golden Dragon China Index rose for a second session, helped by earnings...