Market Commentary - Foreign Markets
Japanese stocks record small gains As on : 28-Aug-24  16:54

Japanese stock markets saw small gains as focus stayed on country's monetary policy trajectory. The equity benchmark Nikkei added 0.22 percent to close 38,371.76 while the broader Topix index rose 0.42 percent higher at 2,692.12. Investors awaited the release of the Federal Reserve's preferred inflation gauge later this week for signals on U.S. interest-rate reductions. Economic cues were positive. Japan's leading economic index for June 2024 was revised up to 109 from 108.6, though it remains the lowest since November 2023. This decline reflects slower manufacturing growth and the first drop in services activity since August 2022. However, consumer confidence improved, and the unemployment rate fell to 2.5%, the lowest since January.

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