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Market Commentary - Foreign Markets
Nikkei soars more than 1%
13-Feb-2025, 05:55
Japanese stocks rallied on the back of a weaker yen. The Nikkei average soared 1.28 percent to 39,461.47 while the broader Topix index settled 1.18 percent higher at 2,765.59. Sentiments were broadly supported after U.S. President Donald Trump said that he had a lengthy and highly productive phone call with President Vladimir V. Putin of Russia and that Ukraine's NATO membership is not practical, fueling hopes of an end to the war in Ukraine. On the economic front, producer prices in Japan rose 0.3 percent on month in January. This was up from the upwardly revised 0.4 percent gain in December (originally 0.3 percent). On a yearly basis, producer prices climbed 4.2 percent - exceeding expectations for 4.0 percent and up from the upwardly revised 3.9 percent in the previous month (originally 3.8 percent).
Japanese stocks rallied on the back of a weaker yen. The Nikkei average soared 1.28 percent to 39,461.47 while the broader Topix index settled 1.18 percent higher at 2,765.59. Sentiments were broadly supported after U.S. President Donald Trump said that he had a lengthy and highly productive phone call with President Vladimir V. Putin of Russia and that Ukraine's NATO membership is not practical, fueling hopes of an end to the war in Ukraine. On the economic front, producer prices in Japan rose 0.3 percent on month in January. This was up from the upwardly revised 0.4 percent gain in December (originally 0.3 percent). On a yearly basis, producer prices climbed 4.2 percent - exceeding expectations for 4.0 percent and up from the upwardly revised 3.9 percent in the previous month (originally 3.8 percent).
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