Market Commentary - Foreign Markets
Nikkei ends up more than 2% As on : 29-Jul-24  16:20

Japanese markets led regional gains ahead of a Bank of Japan policy meeting on Wednesday, where a rate hike is likely to be on the table.

The Nikkei average closed 2.13 percent higher at 38,468.63 in a broad-based rally, rising for the first time in nine sessions. The broader Topix index gained 2.23 percent to finish at 2,759.67.

Chip-related shares such as Tokyo Electron and Advantest surged around 4 percent each while AI-focused startup investor SoftBank Group added 2.3 percent. Silicon wafer maker Shin-Etsu Chemical soared 8.6 percent after first-quarter earnings beat expectations.

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