The Hang Seng Index rebounded from the Thursday pullback despite no fiscal stimulus measures from Beijing. Nonetheless, investors remained hopeful lawmakers would introduce more measures to support the economy.
Notably, the Nikkei brushed aside a stronger Yen, with the bulls eyeing a return to 40,000.
Tech stocks contributed to the Friday gains across the Asian equity markets. The S&P ASX All Technology Index (XTX) was up 0.97%, with the Hang Seng Tech Index (HSTECH) up 0.83%. On the Nikkei, Tokyo Electron Ltd. (8035) and Softbank Group Corp. (9948) were up 3.02% and 2.30%, respectively.
Bank of Japan Pivot Plans Intact Despite Slump in Household Spending
In Japan, private consumption figures failed to impact bets on an April Bank of Japan pivot from negative rates. Household spending tumbled 2.1% month-on-month in January. Economists forecast household spending to increase by 0.4%.
Household spending unexpectedly fell despite Wage-related data from Thursday beating expectations. Average cash earnings increased by 2% after a 1% increase in December.
However, the USD/JPY brushed aside the household spending figures. The markets blamed one-offs on the slump in spending, limiting the impact on the USD/JPY and BoJ policy expectations.
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
GDMINLO Soft Tape Measure Double Scale Body Sewing Flexible Tailor Craft Vinyl Ruler for Weight Loss Medical Body Measurement, Has Centimetre Scale on Reverse Side 60-inch（White）
$3.59 (as of March 12, 2025 20:22 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
MONOZEL Car Vacuum Portable Cordless, 18000Pa 2 in 1 Vacuum Cleaner&Air Duster, 130W Brushless Motor Handheld Vacuum Cordless with 7800mAh Battery, LED Light, Multi-Nozzles for Car, Home, Office, Pet
$39.99 (as of March 12, 2025 19:46 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Artnaturals Kojic Acid Soap + African Net Sponge (2 pack X 142g Turmeric bars) Dark spot remover & Scars - Original Japanese Complex Vitamin C, Hyaluronic Acid, retinol, shea butter (Citrus)
$14.97 (as of March 12, 2025 20:22 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
HydroJug Traveler - 40 oz Water Bottle with Handle & Flip Straw - Fits in Cup Holder, Leak Resistant Tumbler-Reusable Insulated Stainless Steel & Rubber Base - Gifts for Women & Men, Pink Sand
$39.19 (as of March 12, 2025 20:22 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
