Asian stock markets collectively rose, with the Nikkei rising by more than 2% and the Japanese Yen falling

Wallstreetcn
2024.08.13 05:40
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On Tuesday, the Nikkei 225 surged, with Asian markets generally rising. Market volatility may intensify

Asian stock markets collectively rose, with the Nikkei leading the gains.

On Tuesday, the depreciation of the Japanese yen was beneficial for exports. The Nikkei 225 index opened 1.3% higher, then rose by over 2% to 35,744.39 points; the TOPIX index opened 1% higher at 2,526.94 points; the MSCI Asia-Pacific index recovered to the level before the sharp drop on August 5.

Market volatility may intensify. There are concerns in the market that if U.S. inflation data declines, it may indicate the beginning of an economic downturn. However, if inflation remains stubborn, the Federal Reserve may not be able to quickly cut interest rates to protect the economy. In addition, geopolitical risks remain high.

The market will continue to focus on the U.S. Consumer Price Index released on Wednesday to assess whether the U.S. economy can achieve a "soft landing."

Nikkei 225 rises by over 2%, leading Asian stock markets

Japanese stocks opened high and continued to rise, with the Nikkei 225 index up by over 2% to 35,744.39 points.

The TOPIX index in Japan opened 1% higher and is currently up by 1.76% at 2,526.94 points.

Japanese government bond yields fell, with the 10-year bond yield dropping below 0.85%.

The Japanese yen depreciated, with the USD/JPY rising by 0.22% to 147.51.

Asian stock markets open collectively higher, Taiwan and Australia up, South Korea down

The KOSPI in Seoul, South Korea, opened high but then turned lower, opening 0.2% higher and currently down by 0.18% at 2,613.59 points.

The Taiwan Stock Exchange Weighted Index rose by 1.42% to 21,773.26 points. Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, fell by 0.21%.

The S&P/ASX 200 index in Australia rose by 0.05% to 7,817.70 points.

On Tuesday, oil prices fell, with both WTI crude and Brent crude dropping by 0.55%.

Amid escalating concerns over Middle East geopolitical conflicts and the impact of declining US bond yields, the demand for physical gold has increased, leading to a price increase of 0.03%.