The Japanese stock market rebounded at the start of trading, after being pressured the previous day due to concerns about a short-term interest rate hike by the Bank of Japan (BOJ). This time, the banking and insurance sectors were the main drivers of the rally. Mizuho Financial Group shares rose 2.6%, while Dai-ichi Life Holdings gained 2.0%, indicating a recovery in investor buying interest.
In the foreign exchange market, exchange rate movements were relatively calm. The USD/JPY pair was around 155.52, little changed compared to Monday's Tokyo stock market close of 155.64. The yen's stability helped ease market concerns after sentiment had wavered due to speculation about the BOJ's interest rate policy.
Investors were also focused on monitoring the economic measures that Prime Minister Sanae Takaichi would take, as well as developments in improving diplomatic relations between China and Japan. Hopes for clearer economic policies and improved regional relations contributed to the positive market sentiment. As a result, the Nikkei index rose 0.5% to 49,534.11 at the start of the session. (az)
Source: Newsmaker.id
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