- 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.
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%.
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
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