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The Japanese stock market made a triumphant return from its summer hiatus, with the Nikkei 225 index rising more than 2% and crossing the 36,000 mark for the first time since August 2. The broader Topix followed suit, gaining 2.16%. The strong performance was largely driven by gains in the technology and financial sectors, with major players such as Rakuten Group and Trending Micro posting significant gains.
While Japan celebrated its market recovery, other Asian markets showed more subdued performances. South Korea’s Kospi and Kosdaq indices fell and Australia’s S&P/ASX 200 saw only marginal gains.
Chinese stock markets opened with modest gains, with the Hang Seng Index up 0.4% and the CSI 300 Index up slightly by 0.06%. Singapore reported solid economic growth in the second quarter, expanding 2.9% year-on-year.
The positive sentiment in Japan comes as the country prepares for a special parliamentary session to discuss the Bank of Japan’s recent decision to change its yield curve control policy. In addition, Japan’s corporate goods price index rose 3% in July, indicating continued inflationary pressures.
Investors around the world are now focused on the upcoming release of the U.S. Consumer Price Index for July. This crucial economic indicator will provide insights into inflation trends and potentially influence the Federal Reserve’s monetary policy decisions.
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