Tokyo Stocks Rally as Powell Signals Rate Cut
(MENAFN) Tokyo shares closed higher Monday as remarks from U.S. Federal Reserve Chair Jerome Powell sparked renewed bets on imminent interest rate cuts.
Japan’s key Nikkei 225 index gained 174.53 points, or 0.41%, ending at 42,807.82 after Friday’s close. Meanwhile, the broader Topix index rose 4.62 points, or 0.15%, finishing at 3,105.49.
The market followed Wall Street’s late-week rally, driven by Powell’s comments that risks “may warrant adjusting our policy stance.” Analysts noted the Nikkei briefly surpassed the 43,000 mark before investors booked profits through sell orders.
The optimism signals growing expectations that the Fed could ease monetary policy soon, providing momentum for Tokyo equities.
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