Japan’s stock markets experienced a positive start on Friday, mirroring the upward trend witnessed in US markets. The Topix index of the country’s benchmark saw an impressive 0.6 per cent increase in early trading, making it the top-performing stock market in the Asia-Pacific region. The real estate sector stood out as the strongest performer, with a remarkable 4.2 per cent increase.
Meanwhile, there was mixed news regarding currency and commodity markets in Japan. While the yen continued to weaken against the dollar, dropping 0.15 per cent to ¥153.04, officials hinted at potential government intervention to stabilize its value. Despite these efforts, however, the yen’s decline persisted. On a more positive note, gold saw a surge in price, reaching a new all-time high of $2,387.85 per troy ounce with a modest 0.6 per cent increase. This rise can be attributed to stronger-than-expected US inflation data and growing uncertainty in global financial markets.
Overall, while Japan’s stock markets began on a strong footing on Friday, investors remained cautious about broader economic conditions and global uncertainties that could impact market performance in the near future.
:max_bytes(150000):strip_icc()/economicsblog-db43a0c65dd040cab5b0fc83cabe98b5.png)
