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Asian stocks dip after Powell testimony, India due for correction By Investing.com

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⚠️BREAKING: *ASIAN-PACIFIC STOCKS FALL ACROSS THE REGION AFTER POWELL TESTIMONY, INDIA DUE FOR CORRECTION 🇯🇵🇦🇺🇨🇳🇭🇰🇰🇷🇮🇩🇮🇳

jumped 0.6% as more Bank of Japan members posited a dovish outlook for monetary policy. The Japanese indexes were also trading close to 33-year highs.

BOJ board member Asahi Noguchi said on Thursday that the central bank had to maintain its ultra-loose policy in the near-term to ensure steady wage growth. His comments echoed those from peer Seiji Adachi on Wednesday, and also come after the minutes of the BOJ’s April meeting showed that members almost unanimously supported keeping policy loose.

The BOJ’s stance has made it among the few outliers in global central banks this year, and has attracted a swathe of foreign capital into Japanese stocks on the prospect of interest rates remaining low in the country.

 

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