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Japanese markets down after BoJ policy decision

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Last Updated : Oct 31 2024 | 4:50 PM IST
Asian stocks ended broadly lower on Thursday as investors reacted to mixed earnings from U.S. technology companies and signals from the Bank of Japan that further rate rises were still on the horizon.

Chinese markets bucked the weak regional trend ahead of a highly anticipated top legislative bond meeting scheduled in Beijing on Nov. 4-8, with investors awaiting details of stimulus measures.

The yen recovered from near a three-month low against the dollar as the Bank of Japan kept rates steady and warned of "high uncertainties" following the ruling party's worst election result in 15 years.

Gold prices climbed to a record high before retreating as investors awaited U.S. non-farm payrolls figures, inflation data and next week's presidential election for insight into the Federal Reserve policy.

Oil extended gains from the previous session on optimism over U.S. fuel demand following an unexpected drop in crude inventories.

Japanese markets closed lower due to political uncertainty and concerns about abrupt policy shifts. Also, reports on retail sales and industrial production released today offered mixed signals about the economy.

The Nikkei average dropped half a percent to 39,081.25 while the broader Topix index settled 0.30 percent lower at 2,695.51.

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First Published: Oct 31 2024 | 4:24 PM IST

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