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.
Key Points
- Nikkei 225 and Topix gained 9% after a sharp drop
- Bank of Japan raised rates to highest level since 2008
- South Korea markets also saw recovery after temporary halt
Pros
- Japan stocks rebounded sharply after a significant drop
- Real wages in Japan grew for the first time in 26 months
Cons
- Fears of a U.S. recession impacted markets globally