Japan Stocks Rise as Optimism Returns on U.S. Data, Fed Comments
Monday, 7 January 2019 07:34 WIB |
MARKET UPDATE |Nikkei 225Saham JepangIndeks acuan Nikkei 225Topix JepangJapan Topix
Japanese stocks rose as comments from the Federal Reserve, strong jobs data from the U.S. and China's move to ease monetary policy fueled investor optimism on risk assets.
Topix added 3.4% to 1,520.47 as of 9:14 a.m. in Tokyo and Nikkei 225 rose 3.4% at 20,225.04. Meanwhile, yen little changed at 108.52 per dollar after falling 0.8% on Friday.
Electronics makers and auto-related stocks provided the biggest lifts to the Topix index as all industry sub-groups advanced.
Fed Chairman Jerome Powell said policy is flexible and officials are œlistening carefully to financial markets.
U.S. Labor Department figures Friday showed employers added the most workers in 10 months, wage gains accelerated and labor-force participation jumped. The People™s Bank of China cut the required reserves for banks as it took a further step to secure liquidity for the slowing economy.