Japan’s stock benchmark rose 1.8% Tuesday, topping the key psychological mark of 33,000 points for the first time since July 1990
In Japan, the Nikkei 225 popped 584.65 points, or 1.8%, to 32,434,
Asia-Pacific markets rose ahead of the U.S. inflation report and the Federal Reserve’s two-day meeting later in the day. The central bank is widely expected to hold rates for the first time in 15 months. U.S. annual inflation expectations marked a two-year low in the latest New York Fed survey.
Shares of Japanese automaker Toyota surged over 5% after the company announced it will introduce a full lineup of battery electric vehicles with “next generation” batteries from 2026.
These will be developed and manufactured by a new EV unit called BEV Factory, which was established in May.
In Hong Kong, the Hang Seng gained 117.11 points, or 0.6%, to 19,521.45.
Shares of Samsung Electronics and Taiwan Semiconductor Manufacturing rose on Tuesday after the Wall Street Journal reported the U.S. government plans to allow Korea and Taiwan’s chipmakers to maintain their operations in China.
In South Korea, Samsung Electronics gained 1.3% and SK Hynix rose 2.8%. Taiwan Semiconductor Manufacturing Company, or TSMC, wrote 3.1%.
CHINA
In China, the CSI 300 index advanced 20.48 points, or 0.5%, to 3,864.91.
The People’s Bank of China cut its seven-day reverse repurchase rate by 10 basis points from 2% to 1.9%, injecting 2 billion Chinese yuan ($279.97 million) through its seven-day repos. A repurchase agreement (repo) is a type of short-term borrowing rate.
This is the central bank’s first such move since August and follows the nation’s largest banks cutting deposit rates last week, signaling that further monetary easing lies ahead.
In other markets
In Korea, the Kospi Index recovered 8.6 points, or 0.3%, to 2,637.95.
In Taiwan, the Taiex index leaped 261.23 points, or 1.5%, to 17,216.60.
In Singapore, the Straits Times index fell 6.67 points, or 0.3%, to 3,196.07.
In New Zealand, the NZX 50 regained 37.3 points, or 0.3%, to 11,652.84
Australian markets returned from a long weekend, with the ASX 200 gaining 16.35 points, or 0.2%, to 7,138.86.
