A senior BoJ official stepped in to calm the markets, saying the bank would not raise interest rates in times of financial instability.
He Nikkei 225 index Japan experienced a rebound of 1.2% and thus marked a New day of recovery in the stock markets Asian markets, although at its highest point of the session it rose 3% amid marked volatility. This rebound occurred after a bearish opening and was driven by accommodative statements from the Bank of Japan (BoJ), which caused a notable fall in the yen.
BoJ Deputy Governor, Shinichi Uchidaintervened to calm markets, assuring that the bank will not raise interest rates in times of financial instability. In a speech to business leaders, Uchida argued that current volatility justifies continued monetary easing, and stressed that raising rates It is not necessary to avoid falling behind the economic curve.
The market reaction to his remarks was positive, causing the yen to fall by more than 1.7% to 146.77 yen per dollar, although this is still below the high levels seen in July. Elsewhere in Asia, South Korea’s Kospi gained 1.8%, followed by Hong Kong’s Hang Seng, while Australia’s ASX and Shanghai Composite posted more moderate gains.
In China, July imports rose 7.2% compared with the previous month, beating expectations of 3.5%. However, exports rose 7%, below the projected increase of 9.7%.
Wall Street futures also rise
In United States, Wall Street closed with a rise of 1%, andAmerican futures suggest a positive opening of 0.6% for Wednesday. Despite the fall in Super Micro Computer shares, which did not meet market expectations, the indices showed signs of recovery. The Dow Jones rose 0.76%, the S&P 500 1.04% and the Nasdaq 1.03%.
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Reuters
In the commodities market, Brent crude oil fell 0.17% to $76.35 per barrel, the euro weakened 0.2% to $1.0908, and gold advanced 0.1% to $2,433 per ounce. Investors are closely watching tensions in the Middle East, with warnings of a possible Iranian attack on Israel prompting the US government to try to reduce tensions in the region.
In addition, the yield on the 10-year US bond rose to 3.91%, and Bitcoin recovered 0.7%, reaching $57,171. On the other hand, Berkshire Hathaway’s decision to halve its stake in Apple It negatively affected technology and other major American companies, generating concern in the market.
Source: Ambito
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