Asian markets today: Japan’s benchmark Nikkei index climbed above the 70,000 level for the first time on Tuesday, setting a new all-time high after the Bank of Japan (BOJ) announced a widely anticipated interest rate increase and indicated that any further monetary tightening would be implemented gradually.
The Nikkei Stock Average advanced as much as 0.8% in afternoon trading, briefly hitting a record high of 70,000 before paring some gains. The surge followed the Bank of Japan’s decision to raise its benchmark interest rate to 1%, marking its highest level since 1995. The move had been widely anticipated by investors and was largely factored into market expectations.
The Japanese yen remained modestly stronger against the US dollar, while Japanese government bonds weakened following the policy decision.
Meanwhile, the broader Topix index recovered from early-session losses to trade 0.2% higher at 4,007.36.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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