Bank of Japan (BOJ) Governor Ueda’s remarks about ending negative interest rates in 2024 are in murky waters, filling the market with uncertainty.
Technology stocks extended gains as the Hang Seng Index led a mainland real estate recovery after China eased restrictions on online gambling.
Chinese media urged caution about further rate cuts.
Australia’s ASX 200 index hit its highest level since April 2022, while REITs fell on ex-dividends.
South Korea’s industrial production grew at its fastest annualized pace since May 2022.
Japan’s industrial production and retail sales beat expectations.
U.S. stock futures head toward record highs.
Latest developments from the Bank of Japan and Japan:
The Bank of Japan set a floor for some purchases of short-term government bonds from January to March 2024, cutting the frequency of purchases of longer-term JGBs.
Bank of Japan Governor Ueda said the possibility of an end to negative interest rates in 2024 was not zero and that a meeting of branch governors on January 11 could provide important information.
Weekly flow data for Japan showed foreign investors selling Japanese stocks and Japan buying foreign bonds.
