Japan stocks rebound to lead gains in Asia as traders assess U.S. inflation data

Asia-Pacific markets rose on Monday, led by Japan’s Nikkei 225, which gained 2.26% after a U.S. inflation report on Friday raised expectations for a potential interest rate cut.

The Topix index increased by 2.02%, and the Japanese yen strengthened by 0.18% to 153.44 against the dollar.

The U.S. June personal consumption expenditures price index rose 0.1% month-on-month and 2.5% year-on-year, matching economists’ estimates.

This week, the focus in Asia is on the Bank of Japan’s monetary policy meeting starting July 30.

A Reuters poll suggests the central bank may raise rates by 10 basis points to 0.1%, while ING analysts predict a 15 basis point increase and a reduction in bond purchases, CNBC has reported.

read more https://www.cnbc.com/2024/07/29/asia-markets.html

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