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Asian stocks rebounded on Wednesday, with Japanese shares leading the gains after the Bank of Japan’s deputy governor eased investor concerns by saying the central bank would not raise interest rates when markets are volatile.
“The BOJ must maintain monetary policy. Shinichi Uchida said at a meeting with Japanese businesspeople that “given the extremely unstable domestic and international market conditions, we will ease the current policy rate for the time being.”
His declaration This is in contrast to the tough rhetoric from Bank of Japan Governor Kazuo Ueda last week, which led to a widespread unwinding of the yen carry trade.
“Uchida’s comments may help stabilize the yen and Japanese stocks at current levels, but it remains difficult to initiate new carry trades given the heightened volatility and concerns about the U.S. economy,” said Charu Chanana, head of FX strategy at Saxo. “The risk-reward balance still tilts toward a stronger yen, and the timeline depends on how the Fed cuts rates.”
The benchmark Nikkei 225 index (NKY:India) ended 1.2% higher On Wednesday 10% profit The yen (JPY:USD) fell on Tuesday. 2% or more About the dollar.
Rest of Asia: Korea (KOSPI) +1.8%Hong Kong (HSI) +1.2%India (SENSEX) +0.8%China (SHCOMP) +0.1%.
In the US, Dow futures (INDU) +0.4%S&P Futures (SPX) +0.3%Nasdaq Futures (US100:IND) +0.3%.
