Market Commentary - Foreign Markets
Nikkei bounces from one week low, gains around 2% As on : 03-Oct-24  16:42

Japanese stocks gained on hopes of easy monetary conditions after Prime Minister Shigeru Ishiba said the country is not in an environment for an additional rate increase. The US dollar hit a more than six-week high against the yen, boosting the local stocks. The benchmark The Nikkei average soared 1.97% to 38,552.06 while the broader Topix index added 1.20 percent to close at 2,683.71. Automakers soared and banks also rallied. Japanese markets slumped in last session with the Nikkei 225 Index losing 2.2% to test one-week low amid a tumble in technology stocks. Meanwhile, Asian stocks turned in a mixed performance on Thursday amid thin trades amd rising tensions in the Middle East due to the conflict between Iran and Israel. Mainland Chinese markets remained closed for a week-long public holiday.

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