Japanese stocks rebound 10 percent.

Sharing is Caring!
  • Japan’s Nikkei 225 and the broad-based Topix climbed more than 8%.
  • The Reserve Bank of Australia will release its RBA cash rate later today, with economists expecting the rate to remain steady at 4.35%.

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher.

See also  Soaring 10-year bond yield near 4.2%, dragging stocks down—Fed's jumbo rate cut backfired.; Hedge funds face disaster, risking widespread collapses.

Japan’s Nikkei 225
— which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained as much as 10% before paring gains to 8%.

See also  I DON'T AGREE: Goldman Sachs think that Chinese stocks could go up by another 15 - 20%

The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks.

Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report.

www.cnbc.com/2024/08/06/asia-stock-markets-japan-household-spending-rba-rate-decision.html

Views: 117

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.