View of the eyes of birds in Chuo Tokyo, including the Tokyo Tower at sunrise.
Vladimir Zakharov|Moment|Getty Images
The Japanese benchmark Nikkei 225 rose almost 0.6% in the opening to high school on Thursday, led by profits in the real estate and technology sector. The profits were led by chemical companies Resonac Holdings10% jumped to semiconductor manufacturers Screen Holdingsadded 4.5% and added industrial electronics manufacturers. Tokyo Electronicswon 3.9%.
Other Asia-Pacific markets mixed after the Federal Reserve fell benchmark rates as expected on Wednesday.
The Fed also showed that it could make another interest rate cut in 2026, another in 2027 and two more in 2028.
Korean Cospi increased by 0.43%, while Australia’s ASX/S&P 200 slides by 0.57%
Hong Kong’s Hangsen Index was set to trade at 26,829 for the futures contract last traded at 26,829 against the 26,908.39 before the index.
The Bank of Japan has launched a two-day policy meeting, with most economists expecting to stabilize their policy rates.
HSBC expects policy rates to remain the same at upcoming meetings, but it is expected that the meeting will see a 25 basis point hike at this October meeting. This will increase the policy rate to 0.75%.
“Bank Japan officials are looking for signs of economic resilience. We believe that the second quarter GDP print, which exceeds market expectations, certainly provided,” wrote an economist at HSBC. “With the US trade agreement being completed, Japanese exporters have received some relief from potentially higher tariffs, but could continue to be affected by a future slowdown in global trade.”
U.S. stock futures rose slightly on the state side on Wednesday as investors continued to digest the latest rate cut decisions from the Federal Reserve.
In the US, after an unstable day of trading overnight, the main averages closed mixed. The rate cut was not surprising, but the market didn’t know what to do with it.
The first meeting of the Dow Jones Industrial Average lost a bit of steam, but the Blue Chip Index closed 260.42 points (0.6%) at 46,018.32 after hitting a previous all-time high. However, the S&P 500 fell 0.1% at 6,600.35, while the Nasdaq composite fell 0.3% to 22,261.33.
– CNBC’s Jeff Cox, Piershin and Alex Harling contributed to this report.
