Kioxia Holdings extended its gains in the afternoon session. The Bank of Japan raised its policy rate to 1.25%, with 2 dissenting votes. The market focused on the dovish tone, prompting buying interest in semiconductor stocks.
The Bank of Japan decided at its Monetary Policy Meeting, which ran through the 18th, to raise its policy rate to 1.25%. This was the first rate hike in three months, since the June meeting. Policy Board members Asada Toichiro (浅田統一郎) and Sato Ayano (佐藤綾野) dissented.
Following the decision, the BOJ's stance was viewed as dovish in the market, and some investors moved to anticipate the continuation of accommodative conditions. Against this backdrop, buying interest in semiconductor-related stocks strengthened.
The statement pointed to the risk that underlying inflation could rise above the 2% price stability target. It indicated that, in managing policy going forward, the Bank would adjust the degree of monetary easing by raising the policy rate in response to economic, price and financial conditions.