Stock Market Rebound in Japan and Asia-Pacific

Japan's stocks rebounded sharply after a significant drop, with the Nikkei 225 up 10.23% and the Topix up 9.3%. Other markets in Asia-Pacific also saw gains. The Bank of Japan had raised rates causing the yen to strengthen. Markets globally were spooked by fears of a U.S. recession. Japan's June household spending fell, but real wages grew. The Reserve Bank of Australia kept its cash rate steady at 4.35%.

Global Stock Markets Rebound

Japan stocks rebounded sharply after a significant drop, led by the Nikkei 225 and Topix gaining 9%. Bank of Japan rate hike and fears of U.S. recession impacted markets globally. South Korea markets also saw recovery. Oil prices rose. Japan's household spending fell but real wages grew. Reserve Bank of Australia kept cash rate steady, upgraded GDP growth forecast.

Japan's Central Bank Raises Interest Rates

Japan's central bank raised interest rates for the first time since 2007, ending the negative rates regime due to robust wage gains. The bank also announced changes to its policies on bond purchases and quantitative easing.

Japan's Economy Growth in Fourth Quarter

Japan's economy grew in the fourth quarter of last year, averting a recession. Real GDP increased at an annual pace of 0.4% instead of contracting. Expectations are mixed on what the latest data might mean for Bank of Japan policy decisions.

Japanese Stock Market Rally

Japan's Nikkei 225 hits a record high as corporate profitability and investor returns drive a rally in Japanese equities. The weaker yen, strong corporate earnings, and government reforms are supporting the market surge.