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Stocks In Asia Rise, Yen Wobbles

  • Writer: By The Financial District
    By The Financial District
  • Apr 30, 2024
  • 1 min read

Asian stocks inched higher on Tuesday, as investors awaited a slew of economic data, corporate earnings and the US Federal Reserve's policy meeting, while the yen was slightly weaker a day after suspected intervention rescued it from 34-year lows, Ankur Banerjee reported for Reuters.


The spotlight remains on the yen after a volatile start to the week as the Japanese currency surged to 154.40 per dollar on Monday from a fresh 34-year low of 160.245.



MSCI's broadest index of Asia-Pacific shares outside Japan was 0.36% higher, set to clock in a nearly 1% gain for the month, its third straight month of gains.


The Nikkei rose 1% as Japan reopened after a holiday on Monday. China stocks were mixed in early trading with the blue-chip index easing 0.07%, while Hong Kong's Hang Seng index was up 0.5%.



The spotlight remains on the yen after a volatile start to the week as the Japanese currency surged to 154.40 per dollar on Monday from a fresh 34-year low of 160.245, with traders citing yen-buying intervention by authorities.


Markets had been anticipating that Japan might intervene to prop up the yen after the currency fell more than 10% against the dollar this year.




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