Market Commentary - Foreign Markets
Japanese stocks end higher on firm cues from US equities As on : 05-Dec-24  17:33

Japanese stocks saw decent gains; witnessing an upmove for a fourth session as tech stocks stayed in upbeat mode. The Nikkei average ended up 0.30 percent at 339,395.60. The broader Topix index settled marginally higher at 2,742.24. In overnight moves, Benchmark indices on Wall Street scaled new peaks on Wednesday after comments from Fed Chair Jerome Powell ahead of the policy announcement on December 18. Dow Jones closes above 45,000 for the first time after Jerome Powell says economy is 'remarkably good'

On the economic front, recent data showed that services sector in Japan moved back into expansion territory in November. The latest survey from Jibun Bank revealed a service PMI score of 50.5. That's up from 49.7 in October, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.

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