Stocks Climb: Japan and Australia Follow Wall Street’s Lead

Japan and Australian stocks experienced gains following a rebound on Wall Street, while several Asia-Pacific markets were closed for the Lunar New Year holiday. In Japan, the Nikkei 225 rose by 1.02% to close at 39,414.78, and the Topix increased by 0.68% to finish at 2,775.59. In Australia, the S&P/ASX 200 climbed by 0.57% to close at 8,447, marking its highest level since December 5.

The Bank of Japan raised interest rates by 25 basis points to 0.5%, the highest level since 2008, as discussions about neutral interest rates continue amid inflation remaining above the 2% target. Meanwhile, Australia’s inflation rose by 0.2% in the December quarter and 2.4% annually, slightly below the 2.5% projected by economists.

In the U.S., key indexes saw recovery. The S&P 500 advanced by 0.92% to 6,067.70, the Nasdaq Composite surged by 2.03% to 19,733.59, and the Dow Jones Industrial Average added 136.77 points (0.31%) to reach 44,850.35. The technology sector witnessed significant movements, with Nvidia gaining nearly 9% after an earlier decline of 17%. Other tech giants, such as Broadcom and Oracle, also experienced recoveries, with increases of 2.6% and 3.6%, respectively.

Source: CNBC