JKB Financial Services Ltd.

As on : 04-Oct-2024

Market Commentary - Foreign Markets
04-Oct-2024 16:22

Japan's Nikkei edge up 0.22%

Asian stocks ended mixed on Friday as Middle East tensions persisted, and investors looked ahead to the all-important U.S. jobs report later in the day that could decide the path of U.S. interest rates.

The dollar hovered near a six-week high in Asian trading and gold traded near record levels while oil prices steadied, after having surged 5 percent the previous day as U.S. President Joe Biden said the U.S. was discussing possible strikes by Israel on Iran's oil industry.

Japanese markets edged up slightly as Prime Minister Shigeru Ishiba, during a speech today, discussed his economic and fiscal policies.

The Nikkei average inched up 0.22 percent to 38,635.62 as higher oil prices boosted energy-related shares. The broader Topix index settled 0.39 percent higher at 2,694.07.

Seven & I Holdings rallied 3.1 percent on reports that the retail giant has approached potential buyers for its Ito-Yokado stores and supermarkets.

GET IN TOUCH