Asian Stocks Rise as Tech Shares Track Nvidia Rally, Japan's BOJ Signals Less Hawkish Stance

Investing.com-- Most Asian stocks rose on Thursday with technology shares tracking an overnight rally in market darling Nvidia, while Japanese markets soared as a soft reading on producer inflation undermined hawkish signals from the Bank of Japan. The BOJ's recent comments about potential rate hikes were somewhat overshadowed by the softer-than-expected inflation data, providing a more sobering outlook on interest rate cuts.

Markets were seen positioning for a 25 basis point rate cut by the BOJ in the near future. The reading somewhat undermined recent comments from BOJ officials that interest rates will need to rise further, especially given that any further rate hikes by the BOJ are largely contingent on inflation moving higher., with analysts uncertain over whether the central bank will hike interest rates again. But softer inflation gives the central bank less immediate impetus to raise rates. BOJ board member Naoki Tamura said on Thursday that the bank needed to raise interest rates to at least 1% to avoid inflationary risks.Tech- particularly chipmakers- rose tracking an over 8% overnight rally in Nvidia, after comments from its CEO furthered the notion that AI demand will help support tech valuations even as broader economic conditions deteriorate. Alibaba (BABA) rose 1% after a Reuters report said the firm was planning global job cuts of up to 30% of roles in some divisions., with all three moving in a flat-to-low range. Sentiment towards China was battered by reports of U.S. lawmakers preparing more trade restrictions on the country

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Asian chipmaking stocks sink tracking Nvidia lossesAsian chipmaking stocks sink tracking Nvidia losses
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Asian chip stocks fall after Nvidia sell-off on Wall Street overnightIn the U.S., chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid a sell-off on Wall Street.
La source: nbcchicago - 🏆 545. / 51 Lire la suite »

Asian stocks drift lower amid mixed Japan cues; Powell speech loomsAsian stocks drift lower amid mixed Japan cues; Powell speech looms
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Asian stocks muted ahead of economic data; Japan surges in catch-up tradeAsian stocks muted ahead of economic data; Japan surges in catch-up trade
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Asian stocks rise on US inflation cheer, positive data from Japan, ChinaAsian stocks rise on US inflation cheer, positive data from Japan, China
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Japan stocks lift Asian market higher after US retail data boost Wall StreetJapanese stocks are leading gains in Asian markets after Wall Street close to its record heights as data showed the U.S. economy is holding up better than expected.
La source: ksatnews - 🏆 442. / 53 Lire la suite »