The Nikkei Stock Average rose sharply on the afternoon of the 18th, with its gain temporarily exceeding ¥1,300. The BOJ's decision to raise interest rates and dovish interpretations encouraged stock buying.
The Nikkei Stock Average gained momentum on the Tokyo Stock Exchange on the 18th, with its gain temporarily exceeding ¥1,300. The intraday move expanded during trading hours, and buying across the market prevailed as a catalyst for further gains.
The Bank of Japan decided to raise its policy rate at its Monetary Policy Meeting on the same day. The outcome was in line with market expectations, confirming the rate hike.
It was reported that the rate hike was not decided unanimously, prompting widespread dovish interpretations. As a result, views that this would support stock buying spread through the equity market, according to reports.
Some observers also pointed to the momentum following moves in U.S. stocks as supporting the Nikkei, with reports indicating that the market's morning trend continued.