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As on : 20-Jan-2025
Market Commentary - Foreign Markets
20-Jan-2025     16:23

Japanese markets rally before BoJ highly likely rate hike

Japanese markets rallied as investors prepared for a possible BoJ rate hike at the end of a two-day policy meeting on Friday. The Nikkei average climbed 1.17 percent to 38,902.50 after three straight weeks of declines.

The broader Topix index settled 1.19 percent higher at 2,711.27. Automakers led the surge, with Honda Motor rising 1.4 percent while Toyota Motor and Subaru both gained around 3 percent.

Daiichi Sankyo jumped 8.2 percent after the company received FDA approval for a breast cancer treatment it is developing with AstraZeneca.

In economic news, government data showed that Japan's core machinery orders rose 3.4 percent in November from the previous month to beat analysts' forecast.

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