U.S. Markets closed
  • S&P 500

    4,128.80
    +31.63 (+0.77%)
     
  • Dow 30

    33,800.60
    +297.03 (+0.89%)
     
  • Nasdaq

    13,900.19
    +211.39 (+1.54%)
     
  • Russell 2000

    2,243.47
    +20.42 (+0.92%)
     
  • Crude Oil

    59.34
    -0.26 (-0.44%)
     
  • Gold

    1,744.10
    -14.10 (-0.80%)
     
  • Silver

    25.33
    -0.26 (-1.02%)
     
  • EUR/USD

    1.1905
    +0.0031 (+0.2619%)
     
  • 10-Yr Bond

    1.6660
    +0.0340 (+2.08%)
     
  • Vix

    16.69
    -0.47 (-2.74%)
     
  • GBP/USD

    1.3707
    -0.0031 (-0.2248%)
     
  • USD/JPY

    109.6300
    -0.2000 (-0.1821%)
     
  • BTC-USD

    59,770.86
    -1,033.62 (-1.70%)
     
  • CMC Crypto 200

    1,235.89
    +45.20 (+3.80%)
     
  • FTSE 100

    6,915.75
    +30.43 (+0.44%)
     
  • Nikkei 225

    29,768.06
    +37.26 (+0.13%)
     

Japanese shares jump as Fed chair's view eases inflation fears

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

TOKYO, Feb 25 (Reuters) - Japanese stocks jumped on Thursday, as investors scooped up shares after Federal Reserve Chair Jerome Powell eased inflation concerns while boosting Wall Street shares.

The Nikkei share average gained 1.67% to 30,167.24 by 0148 GMT, rebounding from Wednesday's close below the 30,000-mark. The broader Topix rose 1.43% to 1,930.41.

Powell told lawmakers on Wednesday it may take more than three years to reach the central bank's inflation goals, a sign the Fed plans leave interest rates unchanged for a long time to come.

On Wall Street, all three main indexes ended higher, on track to post strong monthly gains, with the Dow and the S&P 500 set for their best month since November.

"Powell's comments have given a big impact on the Japanese stock market as well," said Takatoshi Itoshima, strategist at Pictet Asset Management.

"And we can say even if the market falls one day, it can rebound easily the next day. That's how strong the fundamental is."

SoftBank Group, up 0.17%, was the biggest contributor to the Nikkei's gain, followed by clothing shop Uniqlo operator Fast Retailing, which rose 1.78%.

Chip-related shares jumped, with Tokyo Electron rising 2.44% and Fanuc adding 4.66%. TDK gained 2.23%.

Suzuki Motor dragged down the index by falling 3.4% after the automaker's 91-year old chairman, Osamu Suzuki, announced his retirement in June.

His announcement came less than a week after rival Honda Motor appointed a new CEO. Honda shares rose 2.01%.

The largest percentage gainers on the Nikkei were Nikon , which rose 6.05%, followed by Sumco gaining 5.31 %.

There were 196 advancers on the index against 27 decliners.

All but one of the 33 sector sub-indexes on the exchange traded higher. (Reporting by Junko Fujita; editing by Uttaresh.V)