Japanese Shares Gain for Second Session
The Nikkei 225 Index rose 0.6% to over 50,100, driven by positive Wall Street cues and expectations of a US Fed rate cut in December. Weaker US payrolls data fueled concerns of a labor market slowdown, improving sentiment. In Japan, speculation about a potential Bank of Japan rate hike persisted. Technology stocks, including SoftBank Group and Tokyo Electron, led the gains.
The Nikkei 225 Index rose 0.6% to above 50,100 on Thursday, extending gains from the previous session and taking cues from a positive lead on Wall Street amid expectations that the US Federal Reserve will deliver a December rate cut.
Sentiment improved after private payrolls data in the US came in weaker than expected, adding to concerns about a more pronounced US labor market slowdown.
At home, caution lingered as markets weighed speculation that the Bank of Japan could raise rates this month.
BOJ Governor Kazuo Ueda said the central bank would consider the pros and cons of a hike and act as appropriate.
Technology stocks led the advance, with notable gains from SoftBank Group (2.9%), Lasertec (1.7%), Kioxia Holdings (1.2%), Disco Corp (3.1%) and Tokyo Electron (1.7%).
