Nikkei higher after Bank of Japan decision


The stock exchange in Japan closed on Thursday with a profit. Stock exchange trading was dominated by the central banks. The Bank of Japan (BoJ) kept broad monetary policy unchanged. The Federal Reserve (Fed) also left interest rates unchanged in the United States. However, the Fed was hoping for an interest rate cut later this year.
The Nikkei in Tokyo finished 0.6 percent higher at 21,462.86 points and moved around the highest level in six weeks. According to the Japanese central bank, it is necessary to continue to monitor the influence of US economic policy on the Japanese economy. Connoisseurs expect that the BoJ will increase the incentive measures in the near future.

Japanese companies that are mainly active in the interior such as real estate companies were popular. Mitsui Fudosan and Mitsubishi Estate climbed 1 percent and 1.5 percent. The export companies, on the other hand, were struggling with a more expensive Japanese yen. The automakers Mazda and Honda lost up to 1.9 percent. The Japanese pharmaceutical group Iwaki & Co increased 4 percent after an increase in profit expectations.

Substantial gains were made on Chinese stock exchanges through the hope of a trade agreement with the United States. The stock market gauge in Shanghai improved 2.2 percent in the meantime and in Hong Kong the Hang Seng index gained 0.8 percent. The Kospi in Seoul climbed 0.2 percent and the All Ordinaries in Sydney rose 0.5 percent.

By: Peretz M.

Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.

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