Japan stocks tumble as yen strengthens, most Asia markets rise after Powell signals rate cut

Asian markets assess business activity readings from across the region, including the Caixin purchasing managers index from China.

Asia-Pacific markets largely rose on Thursday, after comments from U.S. Federal Reserve Chair Jerome Powell indicated that a rate cut could come in September if inflation data remained"encouraging."tumbled 2.72%, while the broad-based Topix plunged 3.45%. The indexes were mainly dragged by losses in real estate stocks, while heavyweight exporters also saw losses as the yen strengthened.On Wednesday, the Bank of Japan raised its benchmark interest rate to"around 0.

"I don't want to be really specific about what we're going to do, but that's not something we're thinking about right now," he said.

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