This Thursday, after a seven-day losing streak, the Japanese stock market finally saw a strong rebound. Influenced by a significant overnight rebound in U.S. stocks, the Asia-Pacific markets generally rose, with the Japanese stock market performing particularly well. As of press time, the Nikkei 225 index was up 3.32%, and the TOPIX index also rose by 2.48%.
The South Korean KOSPI index and Australia's S&P/ASX 200 index were up 1.36% and 0.54% respectively, indicating a general improvement in market sentiment across the Asia-Pacific region.
The U.S. August CPI data released overnight exceeded expectations, tempering the market's anticipation of a significant rate cut by the Federal Reserve next week. Nonetheless, U.S. stocks quickly rebounded, with the Nasdaq index rising 2.17% and the S&P 500 index up 1.07%.
Domestically in Japan, the Producer Price Index (PPI) for August increased by 2.5% year-on-year, lower than the market's expectation of 2.8%. This may suggest that the Bank of Japan could slow down the pace of interest rate hikes, providing some support to the market.
