In Tokyo trading on the 29th, the yen was around ¥158 to the dollar. As expectations grew that the US, Europe and Japan would leave monetary policy unchanged, the Nikkei extended its gains, supported by Advantest's strong performance.
In Tokyo trading on the 29th, the yen traded around ¥158 to the dollar and weakened slightly. Expectations grew, particularly for the US, Europe and Japan, that monetary policy would remain unchanged. Dollar buying led the market at times, creating a mix of stability and tension in the foreign exchange market.
In the equity market, Advantest rose sharply as investors valued its share buybacks and solid performance, sending the Nikkei Stock Average higher for a second straight session. The preference for selected stocks continued, with buying also spreading to other technology stocks at times.
In the bond market, futures traded higher, but a wait-and-see mood spread ahead of the Bank of Japan's monetary policy meeting, and prices eventually turned lower. The market adopted an increasingly cautious stance toward assessing future policy developments.
The US FOMC announced on the 28th that it would leave its policy rate unchanged, maintaining its stance on curbing inflation. The Chair indicated a willingness to act depending on conditions and also hinted at the possibility of reviewing the number of interest-rate decisions from 8 to 6 per year.