The Japanese market’s momentum is driven primarily by the country’s technology and financial sectors.
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Japan’s main stock index rose more than 2% in early trading on Tuesday as it returned from the holidays.
The benchmark Nikkei 225 index rose 2.53%, surpassing 36,000 points for the first time since August 2.
The momentum has been driven largely by the country’s tech and financial sectors, which include Rakuten Group and Trend Micro Jumped more than 8% and 6% respectively.
Reuters quoted government sources as saying that Japan’s Diet plans to hold a special meeting next week to discuss the Bank of Japan’s decision to raise interest rates last month.
Japan Corporate Goods Price Index Annual growth of 3% in Julyin line with expectations, and faster than the 2.9% growth in June. CGPI measures price changes in commodities traded within business units.
South Korea’s Kospi fell 0.2% and the small-cap Kosdaq fell 1.57%.
Australia’s S&P/ASX 200 index rose slightly.
Hong Kong Hang Seng Index The CSI 300 Index opened up 0.4%, and the CSI 300 Index opened up 0.06%.
In Southeast Asia, Singapore reveals the state of its economy Growth in the second quarter was 2.9% The year-over-year comparison is consistent with the gross domestic production forecast released in July. The Department of Trade and Industry cited strengths in wholesale trade, finance and insurance, and information and communications. The city-state also said it expected GDP to grow by 2% to 3% in 2024, compared with the previous forecast of 1% to 3%.
U.S. markets were gripped by volatility overnight as investors braced for key inflation data.
The S&P 500 ended the day flat at 5,344.39 points, while the technology-heavy Nasdaq rose 0.21% to close at 16,780.61 points. NVIDIA Soared 4%. On the other hand, the Dow Jones Industrial Average fell 140 points or 0.36% to close at 39,357.01 points.
Traders awaited Wednesday’s release of July’s consumer price index, a key indicator of the health of the U.S. economy. Investors will analyze the data for signs that the Federal Reserve may begin cutting interest rates in September.
—CNBC’s Brian Evans and Tanaya Macheel contributed to this report.
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