Regional Markets React to Political and Economic News

On Thursday, the Asia-Pacific stock markets exhibited a predominantly upward trend, with notable exceptions in Australia and Hong Kong, where markets were closed. The political landscape in South Korea saw significant activity as the Democratic Party pushed for an impeachment vote against Prime Minister Han Duck-soo, drawing investors' attention.

Japan's Economic Outlook and Monetary Policy

Japan's economic forecast took a cautious turn as the Cabinet Office revised its 2024 GDP growth estimate down to 0.4%, attributing this adjustment to prevailing economic uncertainties. Bank of Japan Governor Kazuo Ueda highlighted the need for a careful approach to monetary policy, underscoring the importance of keeping a close watch on economic and financial developments.

Market Movements and Currency Exchange

Japan's Nikkei 225 saw a significant rise, increasing by 0.89% by 7:21 am CET. Meanwhile, China's Shanghai and Shenzhen Composites experienced modest gains. In contrast, South Korea's Kospi index faced a slight decline. The currency market remained stable with the dollar trading flat against the yen at the same time.