Tokyo stocks gained on Thursday following an overnight rally in New York that came after US Federal Reserve Chair Jerome Powell indicated policymakers may scale back the pace of rate hikes.
The Nikkei Average ended the day at 28,226, up 257 points or 0.9 percent from Wednesday's finish. The index climbed more than 450 points during trading at one stage.
The Nikkei 225 advanced for the first time in 5 trading days as investors bought tech shares such as semiconductor firms and electronic parts makers.
Powell suggested policymakers could introduce a smaller interest rate hike than the previous 0.75 points as early as the Fed's December meeting.
Following his remarks, the Japanese currency surged by more than 2 yen against the dollar on Thursday. It briefly hit the 135 level for the first time since late August.
The yield on the 10-year US Treasury note fell, leading investors to bet on a narrowing interest-rate gap between Japan and the US.
The Nikkei Average ended the day at 28,226, up 257 points or 0.9 percent from Wednesday's finish. The index climbed more than 450 points during trading at one stage.
The Nikkei 225 advanced for the first time in 5 trading days as investors bought tech shares such as semiconductor firms and electronic parts makers.
Powell suggested policymakers could introduce a smaller interest rate hike than the previous 0.75 points as early as the Fed's December meeting.
Following his remarks, the Japanese currency surged by more than 2 yen against the dollar on Thursday. It briefly hit the 135 level for the first time since late August.
The yield on the 10-year US Treasury note fell, leading investors to bet on a narrowing interest-rate gap between Japan and the US.
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Summary
Tokyo stocks rose on Thursday following Fed Chair Powell's indication of a potential slowdown in rate hikes, with the Nikkei Average ending at 28,226. The index climbed over 450 points during trading and saw gains for the first time in five days as investors bought tech shares like semiconductor
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ID: e96c6c8a-9754-45e4-8fd5-006c266bb851
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221201_30/
Date: Dec. 1, 2022
Created: 2022/12/02 07:27
Updated: 2025/12/09 10:53
Last Read: 2022/12/02 07:32