The People’s Bank of China (PBOC) building in Beijing on December 15, 2022.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets rose as investors digested the Bank of Japan’s signature shift in monetary policy and awaited the Federal Reserve’s rate decision.
The Bank of Japan raised interest rates for the first time in 17 years on Tuesday and canceled its yield curve control policy. The Nikkei index exceeded the 40,000 point mark for the first time in the past two weeks.
Investors are also focused on China, where the People’s Bank of China is set to release preferential interest rates for one- and five-year loans. The one-year LPR is the benchmark for most home and business loans, while the five-year LPR is the benchmark for most property mortgages.
In Australia, S&P/ASX 200 Index The country’s central bank rose 0.17% a day after the country’s central bank kept interest rates at 4.35% for a third consecutive meeting.
Korean Cospi The Kosdaq rose 1.12%, driven by a 1.37% gain in heavyweight Samsung Electronics, while the small-cap Kosdaq gained 0.34%.
Hong Kong’s Hang Seng Index is also expected to open stronger, with Hang Seng Index futures at 16,629 points, while the index’s last closing price was 16,529.48 points.
Japan’s Nikkei 225 Index Closed due to public holidays.
Overnight, all three major U.S. stock indexes rose as the Federal Reserve began its two-day policy meeting.
The central bank is expected to keep interest rates unchanged on Wednesday. However, a recent spate of worrying inflation reports has investors worried that the central bank may signal that interest rates will remain elevated for longer than expected.
this Dow Jones Industrial Average rose 0.83%, the best single-day gain since February 22, while S&P 500 Index It rose 0.56% to close at 5,178.51 points, setting a new record.this Nasdaq Index up 0.39%.
—CNBC’s Pia Singh and Brian Evans contributed to this report
About The Author
