Japanese markets rose on signs that the Bank of Japan may delay interest rate hikes. The Nikkei average soared 1.80 percent to 40,281.16 while the broader Topix index added 1.26 percent to end at 2,801.68. The Japanese yen fell near a five-month low. The Bank of Japan (BoJ) released the Summary of Opinions from its December monetary policy meeting on Friday, highlighting plans to adjust easing measures if economic conditions align with expectations. One BoJ board member emphasized the importance of monitoring wage negotiation momentum, while another stressed the need for scrutiny of data to determine any changes to monetary support.
Meanwhile, Japan's industrial production dropped for the first time in three months in November, data from the Ministry of Economy, Trade and Industry showed on Friday. Industrial production fell a seasonally adjusted 2.3 percent month-on-month in November, reversing a 2.8 percent rise in October. On a yearly basis, the decline in industrial production was 2.8 percent compared to a 1.4 percent rebound a month ago. Shipments were down 2.7 percent on the month and down 3.8 percent on the year. Similarly, inventories fell 0.9 percent on the month and fell 2.1 percent on the year.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
