Markets turn upbeat as yen slips
Asian stocks climbed after Wall Street’s strong rally, while the yen weakened after the Bank of Japan raised rates in a split decision.
Stocks on the rise
- MSCI Asia Pacific index gained 0.7%
- Nikkei 225 jumped 2%
- Hang Seng rose 0.6%
- Shanghai Composite gained 1%
- Chipmakers rallied after Nvidia’s bullish outlook
Yen under pressure
- BOJ raised its policy rate by 0.25% to 1.25%
- The decision came with a 7-2 vote
- Yen fell to around 157.10 per dollar
- Markets are watching whether the BOJ can keep pace with the Fed
Oil cools, markets breathe
Brent crude fell for a third straight day to just under $104 a barrel as supply concerns eased. Lower oil prices could help reduce inflation pressure.
Corporate watch
- Nvidia CEO Jensen Huang expects chip sales to double next year as AI spreads across industries
- CoreWeave launched a fresh $3 billion convertible bond fundraising
- Tata Sons plans to pursue a stock listing and extend its chairman’s term
Gold shines
Gold climbed to around $4,360 an ounce after a strong gain on Thursday.
What markets are watching
More than $2 trillion in options are set to expire in Friday’s triple witching session, adding another potential source of market volatility.