Asia Pacific stocks rise as U.S. Fed keeps rates on hold; Japan’s June retail sales declines 1.2% on-year
Stocks in Asia Pacific traded higher Thursday morning after the U.S. Federal Reserve left interest rates unchanged.
In Japan, the Nikkei 225 rose 0.42% in early trade while the Topix index added 0.31%. South Korea’s Kospi also advanced 0.67%.
Over in Australia, the S&P/ASX 200 gained 0.69%.
Overall, the MSCI Asia ex-Japan index traded 0.25% higher.
In a widely expected move, the Fed on Wednesday kept its benchmark overnight lending rate near zero.
On the economic data front, Japanese retail sales for June declined 1.2% as compared to a year ago, according to a preliminary report by the country’s Ministry of Economy, Trade and Industry. That compared against a median market forecast for a 6.5% year-on-year decline, according to Reuters.
Meanwhile, shares of South Korean industry heavyweight Samsung Electronics gained more than 1% after the firm reported a 23% rise in its quarterly operating profit, according to Reuters.
Reference: CNBC
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