Gains in Yen and Stocks Continue as BoJ Maintains Rate – Asia Market Wrap
Asian stocks extended a worldwide equities advance after jobs data supported the view that the US economy is heading for a soft landing. The Yen rose as the BoJ kept interest rates steady.
The MSCI Asia Pacific Index climbed as stocks in Japan, South Korea, and Australia advanced, while mainland Chinese shares fell. A worldwide stock index rose to a new high with US stocks on Thursday.
The BoJ maintained its monetary policy settings on Friday, signalling that it sees no need to rush interest rate hikes as it observes financial markets following its July increase and hawkish views worried investors. The nation’s major inflation indicator rose in August for the fourth straight month, according to previously released data.
Treasury rates were little moved on Friday, and an index of Dollar strength remained in a limited range.
According to people familiar with the situation, China is considering lifting some of the most severe remaining restrictions on home purchases after prior steps failed to stimulate a dormant real estate market.
