Asian stocks rise, Nikkei extends rebound on BOJ comments

Investing.com-- Most Asian stocks rose on Wednesday as they recovered from steep losses earlier this week, while Japanese markets rose sharply following some encouraging comments on interest rates from the Bank of Japan.

Regional markets took some positive cues from a strong overnight close on Wall Street, although a recovery in U.S. stocks also remained tenuous after bruising losses on Monday.indexes were the best performers in Asia on Wednesday, rising more than 3% each. Coupled with strong gains on Tuesday, the two indexes had now reversed Monday’s rout, which saw both indexes tumble to eight-month lows and into bear market territory.

His comments sparked some optimism that Japanese interest rates will not rise as sharply as initially forecast by the bank. The BOJ had raised interest rates last week and flagged more increases this year, with its unexpectedly hawkish turn serving as a key weight on Japanese markets.index pointed to a positive open, with the index set for a strong recovery after a rebound on Tuesday petered out.

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