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Market Update: The Nikkei 225 Index rose 3.01%
The NIKKEI 225 added 583.09 points or 2.08% to 28594.02 on Tuesday, bouncing back from declines of 3.29% in the previous session as fears of tighter policies at the US Federal Reserve eased after Jerome Powell reiterated in prepared remarks ahead of a House hearing that the central bank will continue its supportive stance to ensure the “sustained improvement” of the economy. Late last week, the BoJ maintained its massive monetary stimulus last week in order to support the country’s economic recovery, while extending a deadline for asset-buying and loan programmes introduced last year to channel funds to pandemic-hit firms. Local 10-year bond yields were at 0.046% while US 10-year rates lifted from 4-month lows to 1.475%. Meantime, the Japanese government decided Thursday to end the COVID-19 state of emergency covering Tokyo, Hokkaido, Osaka and six other prefectures Sunday, while keeping Okinawa under the measure for three more weeks. [/s2If]
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