Japan’s Nikkei rises over 2% as Asia markets climb; central bank decisions in focus this week

Japan’s Nikkei rises over 2% as Asia markets climb; central bank decisions in focus this week


In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul.

Ed Jones | Afp | Getty Images

Asia-Pacific markets mostly climbed on Monday, led by Japan’s Nikkei 225 rising almost 2% as investors look ahead to a week of central bank decisions from around the region.

The gains on the Nikkei were powered by financials and consumer cyclical stocks, with names like Mizuho Financial Group and Mitsubishi UFJ Financial Group among top gainers on the index.

The yen strengthened 0.16% to trade at 148.46 after hitting its weakest level in over two months earlier in the session. The dollar gained after a strong U.S. jobs report on Friday, which also reduced expectations that the Federal Reserve would need another 50-basis-pont rate cut.

The yen has also been under pressure after new Japan Prime Minister Shigeru Ishiba said he doesn’t “think the environment is ready for an additional rate hike” from the Bank of Japan.

Stock Chart IconStock chart icon

hide content

Three central banks are set to release their interest rate decisions this week, namely the Bank of Korea, the Reserve Bank of New Zealand and the Reserve Bank of India.

Economists polled by Reuters expect the BOK and RBNZ to cut rates, while the RBI will hold.

The BOK on Friday is expected to lower its benchmark interest rate to 3.25% from 3.5%, while the RBNZ is expected to enact a 50-basis-point cut to 4.75% on Wednesday.

Back in August, the RBNZ surprised economists after it lowered its policy rate to 5.25% from 5.5%.

Over in the U.S, stocks advanced on Friday after a stronger-than-expected jobs report gave investors confidence around the health of the economy.

Data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%.

The S&P 500 rose 0.9%, while the Nasdaq Composite jumped 1.22%. The Dow Jones Industrial Average added 0.81% to notch an all-time closing high of 42,352.75.

—CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.



Source

Charlize Theron is choosing to be single, she told ‘Call Her Daddy’: That can be ‘a sign of strength,’ says relationship expert
World

Charlize Theron is choosing to be single, she told ‘Call Her Daddy’: That can be ‘a sign of strength,’ says relationship expert

Oscar-winning actress Charlize Theron has had her share of romantic relationships. Among the most famous were her relationships with Third Eye Blind frontman Stephan Jenkins and actor Sean Penn. But these days, the mother of two is choosing to be single, she recently told Alex Cooper on podcast “Call Her Daddy.” For her, building her […]

Read More
The ‘cortisol cocktail’ has gone viral on TikTok—but can it actually reduce stress? Here’s what doctors say
World

The ‘cortisol cocktail’ has gone viral on TikTok—but can it actually reduce stress? Here’s what doctors say

Let’s face it: Americans are stressed. Google searches for “how to reduce stress” are high, and 77% of U.S. adults report that the country’s future is a major source of stress, according to a survey done by the American Psychological Association. So, it’s no surprise that people are looking for ways to better manage their […]

Read More
Happiness researcher shares his ’90-second rule’ to live a better, more fulfilled life—it helps when you’re angry or upset
World

Happiness researcher shares his ’90-second rule’ to live a better, more fulfilled life—it helps when you’re angry or upset

Mo Gawdat’s son, Ali, was 21 years old when he died due to medical negligence during a routine appendix surgery in 2014. Gawdat was devastated, confused and in a palpable state of shock. Then, 17 days later, he started writing a book on how to be happy, in his son’s honor. Gawdat has researched the […]

Read More