AIRLINK 59.93 Increased By ▲ 0.08 (0.13%)
BOP 6.30 No Change ▼ 0.00 (0%)
CNERGY 4.35 Decreased By ▼ -0.03 (-0.68%)
DFML 15.88 Decreased By ▼ -0.09 (-0.56%)
DGKC 70.20 Decreased By ▼ -1.50 (-2.09%)
FCCL 18.30 Decreased By ▼ -0.16 (-0.87%)
FFBL 26.85 Increased By ▲ 0.55 (2.09%)
FFL 9.32 Increased By ▲ 0.12 (1.3%)
GGL 10.25 Decreased By ▼ -0.07 (-0.68%)
HBL 116.40 Increased By ▲ 1.90 (1.66%)
HUBC 114.25 Increased By ▲ 1.55 (1.38%)
HUMNL 6.80 Increased By ▲ 0.15 (2.26%)
KEL 5.00 Increased By ▲ 0.17 (3.52%)
KOSM 4.74 Increased By ▲ 0.06 (1.28%)
MLCF 38.55 Decreased By ▼ -0.44 (-1.13%)
OGDC 126.50 Increased By ▲ 3.10 (2.51%)
PAEL 21.55 Decreased By ▼ -0.45 (-2.05%)
PIAA 10.92 Decreased By ▼ -0.08 (-0.73%)
PIBTL 6.03 Increased By ▲ 0.01 (0.17%)
PPL 113.30 Increased By ▲ 4.90 (4.52%)
PRL 28.42 Increased By ▲ 0.22 (0.78%)
PTC 11.11 Increased By ▲ 0.04 (0.36%)
SEARL 51.92 Increased By ▲ 0.47 (0.91%)
SNGP 68.10 Increased By ▲ 0.10 (0.15%)
SSGC 11.45 Decreased By ▼ -0.15 (-1.29%)
TELE 7.99 Decreased By ▼ -0.08 (-0.99%)
TPLP 11.60 Decreased By ▼ -0.10 (-0.85%)
TRG 73.20 Decreased By ▼ -2.51 (-3.32%)
UNITY 23.70 Increased By ▲ 0.95 (4.18%)
WTL 1.29 Increased By ▲ 0.01 (0.78%)
BR100 6,665 Increased By 119.3 (1.82%)
BR30 22,656 Increased By 357.8 (1.6%)
KSE100 64,645 Increased By 941.9 (1.48%)
KSE30 21,899 Increased By 390.6 (1.82%)

TOKYO: Tokyo stocks jumped on Tuesday, in line with gains across Asia, as investors returned to play catch-up with the previous day’s gains globally, boosted by dovish comments from Federal Reserve officials.

The benchmark Nikkei 225 index surged 2.43 percent, or 751.86 points, to 31,746.53, while the broader Topix index rose 2.12 percent, or 48.11 points, to 2,312.19.

Traders were cheered after Fed decision-makers suggested they could hold off further interest rate hikes this year owing to a spike in US Treasury yields that have tightened credit conditions.

Market players were also monitoring developments in the Middle East after Hamas launched a deadly attack on Israel at the weekend, with fears that the violence could spread to other areas of the region.

“The market remains very concerned over the potential for the war (between Hamas and Israel) to escalate into other fronts and players,” said Rodrigo Catril of National Australia Bank.

However, dovish remarks by Fed policymakers provided a catalyst to buy. Among them was bank vice chair Philip Jefferson, who said the recent spike in US Treasury yields to multi-year highs could provide the necessary restraint on credit that would be achieved by higher interest rates.

Comments

Comments are closed.