Investors are waiting for fresh clues about how deeply and quickly the U.S. central bank will begin cutting interest rates in September.
Japanese markets rose notably as the yen edged lower ahead of BOJ Governor Kazuo Ueda’s testimony in front of parliament.
Meanwhile, activity in Japan’s manufacturing sector contracted slightly in August, but to a lesser extent than in previous months, while the services sector expanded, a business survey showed today.
The Nikkei average climbed 0.68 percent to 38,211.01 while the broader Topix index settled 0.25 percent higher at 2,671.40.
Among the top gainers, Sumitomo Dainippon Pharma surged 6.7 percent to hit a 52-week high.
The headline au Jibun Bank Flash Japan Manufacturing Purchasing Managers Index (PMI) rose to 49.5 in August from 49.1 in July. The au Jibun Bank Flash Japan Services Business Activity Index posted 54.0 in August, up from a final reading of 53.7 in July. The au Jibun Bank Flash Japan Composite Business Activity Index posted 53.0 in August, up from a final reading of 52.5 in July.
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First Published: Aug 22 2024 | 4:17 PM IST
