Topix Caps Best Week Since September on View of Slower Fed Hikes

Friday, 11 January 2019 14:02 WIB

Nikkei 225Saham JepangIndeks acuan Nikkei 225Topix JepangJapan Topix


Japan's Topix index climbed, capping its best week since September, after the latest remarks from U.S. Federal Reserve officials spurred speculation that the central bank will tighten policy slower than expected.

Topix rose 0.5% to 1,529.73 at the close in Tokyo and Nikkei 225 added 1% to 20,359.70. Yen strengthened 0.1% at 108.37 against the dollar; still down more than 3% from peak in March.

The benchmark extended its gain for the week to almost 4 percent after Fed Chairman Jerome Powell said the U.S. central bank can be patient before adjusting interest rates again as it waits to see how global risks impact the domestic economy. The Fed's James Bullard said the central bank should curb expectations for additional hikes amid slowing global growth. Exporters ranging from consumer electronics firms to machinery makers bolstered gains.

Source: Bloomberg


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