The Washington Post on Nostr: Japanese stocks rebound after global sell-off; U.S. futures edge up ========== ...

Japanese stocks rebound after global sell-off; U.S. futures edge up
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Japan’s benchmark Nikkei 225 index ended the day up 10.23 percent on Tuesday, after its biggest single-day point drop Monday; U.S. equity futures also climbed in early Asia trading; China’s Shanghai Composite stock market was up 0.23 percent; South Korea’s Kospi index was up more than 3 percent; Hong Kong’s Hang Seng Index was down 0.31 percent; Australia's benchmark S&P/ASX 200 closed up 0.41 percent; European indexes, including London’s FTSE, Germany’s Dax and the continentwide Stoxx 600, also appeared to rebound slightly in early trading; The Dow Jones Industrial Average shed nearly 1,034 points, or 2.6 percent, and closed at 38,703.27; The broader S&P 500 lost 3.0 percent, while the tech-heavy Nasdaq composite index lost 3.4 percent; The Japanese index reached all-time highs over 42,000 in July, but those gains have since been erased amid concerns about rising interest rates; The Bank of Japan’s decision to raise its short-term policy rate to 0.25 percent on July 31 led to the “unwind of the yen carry trade, which added downside pressure on risk assets which were already selling off,”; Japanese Finance Minister Shunichi Suzuki said Tuesday that the government will continue to monitor financial markets, working closely with the country’s central bank; Data released Friday showed that U.S. employers added 114,000 jobs in July — far fewer than expected — and that the unemployment rate rose to 4.3 percent, its highest level in almost three years; Experts said this week’s fluctuations are a sign of short-term supply and demand, and that Japan’s economy remains strong.

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https://www.washingtonpost.com/business/2024/08/06/japan-us-stock-market-news/