The Bank of Japan (BOJ) head office is seen beyond the cherry blooms in Tokyo on March 20, 2023.
Kazuhiro Nogi|Afp|Getty Images
Japan’s Nikkei 225 index led gains in Asia-Pacific markets on Monday, while China shares extended gains after information revealed its economy began the year on a strong note.
The U.S. Federal Reserve will begin its Federal Open Market Committee conference onTuesday A Reuters survey of economic experts is anticipating the Fed to hold its benchmark rate of interest stable at 5.25% to 5.5%.
In Asia, the Reserve Bank of Australia is anticipated to keep its money rate stable at 4.35% when it concludes its conference on Tuesday.
In contrast, a Reuters survey anticipates the Bank of Japan to leave its unfavorable rate of interest policy and raise its benchmark rate to 0% from -0.1% when it makes its statement on Tuesday.
Japan’s Nikkei 225 closed 2.67% greater at 39,74044 The Topix climbed up 1.92% to close at 2,72199
In Europe, the Bank of England is anticipated to keep rates the same at 5.25%.
Data revealed retail sales and commercial production in China increased more than anticipated in the very first 2 months of the year. The joblessness rate for cities was 5.3% in February.
China’s CSI 300 index closed 0.94% greater at 3,60353, ending its 6th straight session in favorable area.
Hong Kong’s Hang Seng index was likewise trading up about 0.2% in the last hour of trading, after opening almost 0.3% lower.
On Friday in the U.S., all 3 indexes fell on Friday as inflation issues stay front and center ahead of the Federal Reserve’s policy conference.
The S&P 500 lost 0.65%, while the Dow Jones Industrial Average dipped 0.49%, while the Nasdaq Composite slipped 0.96%.
— CNBC’s Brian Evans and Alex Harring added to this report
