Market Update: Japan and Taiwan Stocks Soar to Record Highs Amid Asia-Pacific Rally
Money | July 4, 2024, 4:24 a.m.
Asian-Pacific markets saw significant gains on Thursday as Japan's major indexes, including the Topix and Nikkei 225, surged to all-time highs. Japanese financial institutions are set to sell billions of yen in Honda cross-shareholdings, while SoftBank Group shares continued their winning streak. Additionally, Japanese companies recently implemented the largest wage hikes in three decades, signaling positive economic growth. Meanwhile, Taiwan's Weighted Index also reached a new high, driven by chip stocks. Despite positive market performance, Hong Kong's business activity declined, with private sector output falling for the second consecutive month. Overall, the region's markets showed resilience and potential for growth, as investors remain optimistic about the future.