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☆ Yen holds nerve as BOJ decision looms; dollar resurgent
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: +4 min

The yen was last little changed at 149.14 per dollar, while the Australian dollar fell 0.06% $0.6556. Against the euro, the yen steadied at 162.18, with the Japanese currency likewise little changed against the Aussie at 97.78. So BOJ's decisions generally are, as far as the yen is concerned, a matter of secondary importance," said Berry. "Holding policy rates steady and policy guidance broadly unchanged seems like a reasonably straightforward decision in the presence of high uncertainty," said Carl Ang, fixed income research analyst at MFS Investment Management. The New Zealand dollar was similarly pinned near Monday's two-week low and last bought $0.6079.

Persons: Gareth Berry, It's, they're, it's, Berry, Carl Ang, Sterling, —, Goldman Sachs, David Mericle Organizations: Bank of Japan, U.S, Reserve Bank of Australia, Aussie, Nikkei, Macquarie, Federal Reserve, MFS Investment Management, U.S ., New Zealand Locations: Bath, England, Asia, Japan, United States, Down, Australia, Monday's

The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.

Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, —, JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia

☆ Dollar steady, yen soft as BOJ policy shift beckons
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person is seen holding 100, 50, and 5 U.S. dollar bills in his hand. Tom Kenny, senior international economist at ANZ, said an end to negative interest rate policy is likely to reflect a 10-basis-point hike taking the current policy rate from -0.1% to 0.0%. "We expect this to be a dovish hike with the BOJ unlikely to signal its intention to hike again soon." The focus has shifted to whether the policymakers will make any changes to their projections of rate cuts, or dot plots for this year. The Fed in December projected 75 basis points, or three rate cuts, of easing in 2024.

Persons: Kazuo Ueda, Tom Kenny, Powell, bitcoin Organizations: U.S, Bank of Japan, Federal Reserve, ANZ, Beyond, Reuters, New Zealand, Bank of England, Fed, NatWest Locations: Japan, United States, England, Australia, Norway, Switzerland, Mexico, Brazil, Indonesia, Asia, Beyond Japan, Australia's, U.S, cryptocurrencies

☆ Shigeichi Negishi, Japanese inventor of first karaoke machine, dies aged 100
▼ + stars: | 2024-03-18 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

CNN —Shigeichi Negishi, the entrepreneur who invented the world’s first karaoke machine, has died aged 100. Negishi, whose 1967 “Sparko Box” prototype is among several devices credited with ushering in Japan’s karaoke craze, died from natural causes in January. His death, which was made public last week, was confirmed to CNN by Shiro Kataoka, managing director of the All-Japan Karaoke Industrialist Association. “When I asked the factory engineer, he said, ‘It’s easy,’” Negishi recalled in an account published by the All-Japan Karaoke Industrialist Association, an industry body for Japan’s karaoke operators. Subsequent developments, including the introduction of video karaoke and networked karaoke systems, helped the phenomenon spread across Asia and the world in the following decades.

Persons: Shigeichi Negishi, Shiro Kataoka, Negishi, ‘, ” Negishi, Leon Harris, Matt Alt, Yoshio Kodama’s, ”, “, I’d, Association’s, ” Shigeichi Negishi, Hiroko Yoda, Daisuke Inoue, Inoue Organizations: CNN, Japan Karaoke, Association ., Association, “ Locations: Japan, Tokyo, Asia

HONG KONG (AP) — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January. Another report on prices at the wholesale level also showed inflation remains hotter than Wall Street expected. The Fed's main rate remains at its highest level since 2001.

Persons: Australia’s Organizations: Japan’s, Federal Reserve, Nikkei, Bank of Japan, Dow Jones, Nasdaq, Technology, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, Tokyo, Hong Kong, Shanghai, South Korea, India, Bangkok, U.S

Germany’s DAX added 0.1% to 17,959.35 and the FTSE 100 in London edged 0.1% higher to 7,731.73. Markets are awaiting a decision by the Bank of Japan on Tuesday on whether to raise its benchmark interest rate for the first time in 17 years. The Hang Seng in Hong Kong edged 0.1% higher to 16,737.12, and the Shanghai Composite index gained 1% to 3,084.93. Elsewhere, Australia’s S&P/ASX 200 edged 0.1% higher to 7,675.80, and the Kospi in South Korea advanced 0.7%, to 2,685.84. A report on consumer prices last week showed inflation remains stubborn, ticking up to 3.2% in February from 3.1% in January.

Persons: Germany’s DAX, Australia’s Organizations: Japan’s, Federal Reserve, CAC, Dow Jones, Nikkei, Bank of Japan, Honda Motor, Dongfeng Motor, Nasdaq, Software, Adobe, Microsoft, Broadcom, Google, University of Michigan, Fed, Traders, CME Group, New York Mercantile Exchange, Brent, U.S Locations: HONG KONG, London, Paris, Tokyo, Hong Kong, Shanghai, China, South Korea, India, Bangkok, U.S

☆ Dollar advances as U.S. inflation data weighs on rates outlook
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +3 min

The dollar was firm on Friday and set to snap a three-week losing streak as hotter-than-expected U.S. inflation data stoked worries about when and by how much the Federal Reserve would start cutting interest rates this year. The dollar was firm on Friday and set to snap a three-week losing streak as hotter-than-expected U.S. inflation data stoked worries about when and by how much the Federal Reserve would start cutting interest rates this year. Data on Thursday showed the U.S. producer price index for final demand rose 0.6% in February above the 0.3% rise economists had forecast. The dollar index , which measures the U.S. currency against six rivals, was 0.058% higher at 103.44, after rising 0.55% on Thursday. In other currencies, the Australian dollar fell 0.18% to $0.657, while the New Zealand dollar fell 0.39% to $0.611.

Persons: Jerome Powell, Ryan Brandham, Carol Kong, bitcoin Organizations: Federal Reserve, Risk, Traders, Bank of, Commonwealth Bank of Australia, New Zealand Locations: U.S, North America

☆ Currency market subdued ahead of fresh U.S. economic data
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +3 min

The currency market was sedate on Thursday, with the U.S. dollar consolidating against major peers as market players awaited more data out of the world's largest economy for clues on the direction of Federal Reserve policy. With the Fed widely expected to hold rates steady at its meeting next week, attention will be on the bank's updated economic projections. The dollar index , which measures the greenback against a basket of six currencies, was mostly flat at 102.77. Sources told Reuters that Japan's central bank will debate ending negative rates next week if big firms' wage talks yield strong results. Elsewhere, the euro was holding steady against the dollar at $1.0949, ahead of remarks by several European Central Bank officials on Thursday.

Persons: Kyle Rodda, Jerome Powell, Sterling, bitcoin Organizations: U.S, Federal Reserve, Fed, U.S ., PPI, Bank, Reuters, European Central Bank Locations: Buenos Aires, Argentina, U.S

TOKYO (AP) — Global shares are mixed Thursday in lackluster trading. U.S. shares were set to drift higher with Dow futures up nearly 0.3% at 39,632.00. Nissan Motor Co. stock jumped 2.2% after an unconfirmed Japanese media report that the automaker behind the Leaf electric car was about to enter an agreement on EVs with domestic rival Honda Motor Co. Honda shares rose 1.1%. Photos You Should See View All 60 ImagesThe Japanese central bank has set a target of 2% inflation. That higher inflation has in turn dashed Wall Street’s hopes that the Federal Reserve could start offering relief at its meeting next week by cutting interest rates.

Persons: Germany's DAX, Sydney's, Hang Seng, ”, Anderson Alves, Brent Organizations: TOKYO, —, CAC, Dow, Nikkei, Nissan Motor Co, Honda Motor Co, Honda, Nissan, Bank of Japan, Bank of, Federal Reserve, Fed, U.S Locations: Hong, Shanghai, ActivTrades, Bank of Japan

(Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)At Japan's highly anticipated "shunto" spring wage negotiations this year, the world's largest automaker Toyota agreed to the biggest annual pay increase for workers in 25 years. Market speculation reached fever pitch this week as various corporate giants announced robust negotiated salary increments that in some instances exceeded what unions petitioned for. Bank of Japan Governor Kazuo Ueda has repeatedly said the outcome of this year's wage negotiations will influence the central bank's decision on when to exit the world's last negative interest rate policy. Japan's largest trade union grouping, known as Rengo, will announce the first collation of ongoing wage negotiations on Friday. Here's what you need to know about this year's spring wage talks, which takes place annually in March.

Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Getty, Toyota Locations: Tokyo, AFP

☆ If you've always dreamed of wandering the alleys in the famous geisha district in Kyoto, your time might be running out
▼ + stars: | 2024-03-13 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +2 min

Gion, a historic district in Kyoto, is set to bar tourists from entering its private streets from April. Gion is famed for its traditional teahouses where geisha work and entertain guests. AdvertisementGion, Japan's popular geisha district in Kyoto, will be barring tourists from entering certain alleys, the news agency AFP reported on Friday. The district council comprises several residents of Gion. While Gion's private streets will be closed, tourists will still be allowed to enter the main Hanamikoji Street, which is public, per AFP.

Persons: Gion, —, Isokazu Ota, Ota, It's, Kotaro Nagaski Organizations: Service, AFP, Asahi Shimbun Locations: Kyoto, Gion, Ota, Japan, Yamanashi, Fuji

☆ Dollar steadies as traders weigh hotter-than-expected inflation
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. consumer price index, or CPI, increased solidly in February, beating forecasts and suggesting some stickiness in inflation. That has left analysts wondering whether the Fed will have sufficient data to justify more than a couple of rate cuts all year. The dollar index , which measures the greenback against a basket of peer currencies, was little changed at 102.91.

Persons: Powell, Matt Simpson, Kazuo Ueda's, bitcoin Organizations: U.S, Federal, Fund, U.S ., CPI, Bank of Japan, Traders, European Central Bank Locations: U.S

TOKYO (AP) — Asian shares mostly rose Wednesday, encouraged by a record rally on Wall Street that was led by technology companies. Speculation is rife that Japan's central bank is getting ready to end its super-easy monetary policy, which has set interest rates below zero, and start raising rates. Photos You Should See View All 60 ImagesOn Wall Street, the S&P 500 jumped 1.1% to top its all-time high set last week. The worse-than-expected data kept the door closed for long-sought cuts to interest rates at the Federal Reserve meeting next week. On Wall Street, big technology stocks did heavy lifting.

Persons: Australia's, Korea's Kospi, ”, Tim Waterer, Brian Jacobsen, Chris Larkin, Morgan Stanley, ” Larkin, “, Dow, Brent Organizations: TOKYO, Nikkei, Bank of, KCM, U.S, Dow Jones, Nasdaq, Federal Reserve, Annex Wealth Management, Fed, Treasury, Oracle, Nvidia Locations: Hong, Shanghai, Wall

☆ Dollar on guard; BOJ speculation keeps yen supported
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +4 min

Against the dollar, the euro retreated from a roughly two-month high hit last week and last bought $1.0931. The Australian dollar rose 0.01% to $0.6615, while the New Zealand dollar edged 0.02% lower to $0.61685. The dollar index was little changed at 102.80, having hit a roughly two-month low of 102.33 last week. Over in Asia, swirling speculation that the BOJ could move away from its ultra-easy policy settings at its policy meeting next week kept the yen supported. Against the dollar, the yen steadied at 146.94, not far from Friday's one-month top of 146.48.

Persons: bitcoin, Ray Attrill, Jerome Powell, We're, NAB's, there'll, Shunichi Suzuki Organizations: Bank of Japan, Sterling, greenback, Federal Reserve, National Australia Bank, NAB, New Zealand, country's Finance Locations: Asia, Japan

☆ Yen gains as bets firm for imminent rate hike; sterling slides
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. Sterling pulled back sharply from a multi-month high, following its best week since November of 2022, amid bets the Bank of England will be slower to cut rates than the Fed or European Central Bank. The greenback eased 0.17% to 146.82 yen , heading back toward the five-week low of 146.48 reached on Friday. The next Fed meeting runs March 19-20. The ECB left rates at record highs last Thursday while cautiously laying the ground to lower them later this year.

Persons: Sterling, Jerome Powell's, bitcoin Organizations: Bank of Japan, Federal Reserve, Bank of England, European Central Bank, Westpac, Fed, ECB

☆ These tourist hot spots are introducing entry fees and price hikes for 2024
▼ + stars: | 2024-03-09 | by ( Maureen Ohare | ) edition.cnn.com time to read: +4 min

See more, pay moreMore and more tourist hot spots are introducing visitor caps and entry fees to prevent overcrowding - and, whaddya know, it gives their coffers a little boost, too. There’s a new $13 charge for climbing Japan’s famous (and congested) Mount Fuji, which follows Japan’s 70% price hike for tourist rail passes. The Louvre art museum in Paris, home to the Mona Lisa, has raised ticket prices by almost a third, ahead of the Paris Olympics this summer. Walt Disney World Resort in Florida has already introduced higher park ticket prices for next year. Some of the lowest single-day, single-park ticket prices have gone up by $10 for 2025.

Persons: whaddya, Mona Lisa, It’s, Walt, Romeo, Juliet, ”, they’d Organizations: CNN, Fuji, Paris, Walt Disney World, Eiffel, United Airlines, Airbus Locations: Paris, London, Thailand, China, Seville, Spain, Louvre, Europe, Asia, Florida, Italian, Trafalgar, Bangkok, Mumbai, Houston, Australian, Lazio, Italy, Arizona, Basilicata, United States

☆ Dollar ends week under pressure as data keeps rate cut hopes alive
▼ + stars: | 2024-03-08 | by ( ) www.cnbc.com time to read: +4 min

The unemployment rate rose to 3.9% in February after holding at 3.7% for three straight months, the data showed. The euro got a lift this week as the dollar came under pressure after Federal Reserve Chair Jerome Powell sounded more confident about cutting interest rates in coming months. Currencies typically weaken if central banks lower interest rates. Against the yen, the dollar was 0.68% lower at 147.05 yen, its weakest since Feb. 2. Firming hopes that interest rates in the U.S. and Europe will start to fall in June also helped prop up the risk-sensitive Australian and New Zealand dollars.

Persons: Jerome Powell, Stuart Cole, Cole, Powell, Lindsey Bell, Kathleen Brooks, Sterling, BoE, Firming, bitcoin Organizations: Federal Reserve, Bureau of Labor Statistics, Equiti, ECB, Federal, Ventures, Bank of, Reuters, European Central Bank, U.S . Federal, Bank of England, New Locations: Japan, Charlotte , North Carolina, Bank of Japan, U.S, Europe, New Zealand

☆ Dollar falls with Treasury yields on views of looming U.S. rate cuts
▼ + stars: | 2024-03-07 | by ( ) www.cnbc.com time to read: +3 min

Against the yen , the dollar bottomed at a roughly one-month trough of 148.94 in early Asian trade on Thursday. The euro and sterling held near one-month highs struck in the previous session and last bought $1.0902 and $1.2738 respectively. Market bets for imminent cuts also kept U.S. Treasury yields under pressure, with the two-year yield which typically reflects near-term rate expectations — last at 4.5640%. All of that left the greenback pinned near a one-month low against a basket of currencies. The New Zealand dollar rose 0.05% to $0.6133, while the Australian dollar edged 0.11% higher to $0.6572.

Persons: bitcoin, Jerome Powell, Carol Kong, Powell, Simon Harvey Organizations: U.S, Federal, Treasury, Commonwealth Bank of Australia, Fed, Canadian, Bank of Canada, BoC, Wednesday, New Zealand

TOKYO (AP) — Asian shares were trading mixed Thursday, after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei 225 momentarily reached a record high in early trading but slipped later to finish at 39,598.71, down 1.2%. “The positive handover from Wall Street, alongside lower Treasury yields and a weaker U.S. dollar, may offer some relief as Fed Chair’s testimony failed to drive much hawkish deviation from his usual script,” said Yeap Jun Rong, market analyst at IG. As always, Wall Street scrutinized each of Powell's words for hints about when the Federal Reserve could begin cutting its main interest rate, which is at its highest level since 2001. “We want to see a little more data so we can become more confident.”Traders have already shelved earlier expectations for a cut in March, and they’re now eyeing June as the likeliest beginning.

Persons: Australia's, ”, Yeap Jun Rong, Jerome Powell, CrowdStrike, Steven Mnuchin, Donald Trump, Powell, ” Powell, Rubeela Farooqi, Locker, Brent, Stan Choe Organizations: TOKYO, Wall, Nikkei, IG, Federal, Dow Jones, Nasdaq, Nvidia, Big Tech, New York Community Bancorp, U.S, Treasury, Federal Reserve, Fed, Traders, AP Locations: Hong, Shanghai

☆ Mount Fuji introducing visitor cap and entry fee to prevent overcrowding
▼ + stars: | 2024-03-06 | by ( Lilit Marcus | ) edition.cnn.com time to read: +3 min

CNN —Mount Fuji, a UNESCO World Heritage site and an icon of Japan, is putting new regulations in place for climbers amid concerns about overcrowding. “By strongly promoting comprehensive safety measures for climbing Mount Fuji, we will ensure that Mount Fuji, a treasure of the world, is passed on to future generations,” said Koutaro Nagasaki, governor of Yamanashi Prefecture. “In order to revive traditional mountain climbing from the foot of Mount Fuji, we will gain a detailed understanding of the Fuji-ko and Oshi culture that supported Mount Fuji worship. This 2023 photo shows a crowd of visitors beginning their Mount Fuji ascents. Mathiad Cena/AFP/Getty ImagesAccording to prefectural data, five million people hiked Mount Fuji in 2019, a rise of three million from 2012.

Persons: ”, Koutaro Nagasaki, Mathiad Cena, “ Overtourism, Masatake Izumi, Tomoyo Takahashi, Takahashi, Hanako Montgomery Organizations: CNN, Mount, UNESCO, Fuji, Mount Fuji, Heritage Fuji Division, CNN Travel Locations: Japan, Yamanashi, Yamanashi Prefecture, Kasai, Kyoto, Hatsukaichi, Hiroshima

☆ Dollar steady ahead of Powell testimony, bitcoin takes breather
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar was largely steady on Wednesday, as traders avoided making large bets ahead of congressional testimony from Federal Reserve Chair Jerome Powell, as well as the European Central Bank's, or ECB, rate decision and U.S. jobs data later this week. In cryptocurrencies, bitcoin was slightly up but stayed below a record high reached in a volatile overnight session. Powell is expected to reinforce that the Fed will wait for more data before making any rate cuts. Elsewhere, the ECB is widely expected to leave interest rates at a record 4% at its policy meeting on Thursday. Markets are also keeping a close eye on the world's largest cryptocurrency, bitcoin , after it surged to a record high overnight before retreating sharply.

Persons: Jerome Powell, bitcoin, Powell's, Powell, Carol Kong, Sterling Organizations: U.S, Federal, European Central Bank, Institute for Supply Management, Traders, Commonwealth Bank of Australia, ECB Locations: U.S

☆ Will Nikkei's record-breaking rally sustain even as Japan's economy sputters?
▼ + stars: | 2024-03-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Fuji and Tokyo skyline Jackyenjoyphotography | Moment | Getty ImagesJapan's Nikkei stock index has been on a record-breaking spree on the back of robust earnings and investor-friendly measures. But the country's ailing economy has experts divided over this sustainability of this rally. Japan's corporate governance reforms have been a key driver for the country's stock markets, Momma said, while stressing that stock indexes do not necessarily represent the entire economy that includes SMEs and households. SMEs are a critical lever in the Japanese economy, accounting for 70% of national employment and 50% of the country's economic growth. "Spillover from the global boom of AI-related stocks certainly helped Nikkei," Momma said.

Persons: Kazuo Momma, Momma, Sayuri Shirai, pare, Shirai, Phillip Colmar MRB Organizations: Nikkei, Mizuho Research, CNBC, Bank of Japan, Nvidia, Technology, Stock, Keio University, Bank of America, Phillip Colmar MRB Partners Locations: Fuji, Tokyo, Germany, Japan, U.S, China

☆ Dollar a spectator to China news, yen ponders rate risks
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +3 min

There was more action in bitcoin , which gained 1.2% to $68,341 after surging more than 7% on Monday. The Japanese yen held steady after data showed Tokyo core inflation sped up to 2.5% in February, from 1.8% the previous month. "Accordingly, we're sticking to our forecast that the Bank of Japan will hike interest rates into positive territory next month." The dollar was a fraction lower at 150.44 yen , having again shied away from resistance around 150.85, which has capped the currency for more than three months now. The European Central Bank, or ECB, holds a meeting on Thursday and markets are convinced it will keep rates at 4.0%.

Persons: Marcel Thieliant, Jerome Powell, Sterling, Jeremy Hunt Organizations: People's Congress, Bank of Japan's, Capital Economics, Bank of, Federal Reserve, European Central Bank, ECB, Westpac, . Finance Locations: China, Tokyo, Japan, bitcoin, United States, Beijing, Asia, Bank of Japan

☆ Dollar eases as Fed clues awaited; bitcoin hits 2-year high
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: +3 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts. The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts. The euro was firm following Friday's 0.33% advance, with a European Central Bank, or ECB, policy decision looming on Thursday. That also weighed on Treasury yields, removing additional support for the dollar, with the benchmark 10-year yield sliding as low as 4.178% for the first time in two weeks.

Persons: Bias, Jerome Powell's, Kazuo Ueda, Hajime Takata, Christine Lagarde's, Bitcoin Organizations: U.S, European Central Bank, Bank of, Treasury, Congress, Westpac, ECB Locations: Buenos Aires, Argentina

☆ Japan’s Nikkei 225 stock index surpasses 40,000 for the first time
▼ + stars: | 2024-03-04 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Japan’s Nikkei 225 index jumped above 40,000 for the first time on Monday, extending a historic rally that analysts say has just begun. The milestone comes just days after it had set a record closing high of 39,098.68, eclipsing its previous 1989 peak. Optimism regarding semiconductors boosted Taiwan’s stock market as well, with benchmark Taiex hitting an all-time high on Monday, led by Taiwan Semiconductor Manufacturing Company. Premier Li Qiang is set to announce China’s 2024 growth target on Tuesday and is also likely to unveil more stimulus measures to revive the sagging economy. Analysts widely expect the policymakers to set this year’s growth target at around 5%.

Persons: ”, Jefferies, “, chipmaker, Kospi, Hong, Li Qiang, Stephen Innes Organizations: Hong Kong CNN —, Nikkei, Nasdaq, Taiwan Semiconductor Manufacturing Company, Nvidia, Investors, National People’s Congress, NPC, Communist Party’s Politburo Locations: Hong Kong, Japan, Beijing, Shanghai, China

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