Mario stands at the “SUPER NINTENDO WORLD” Welcome Celebration at Universal Studios Hollywood on February 16, 2023 in Universal City, California.
Rodin Eckenroth | Getty Images Entertainment | Getty Images
Most Asia-Pacific markets rose on Monday, led by Japan Nikki 225 It rose nearly 2% as investors looked ahead to a week of central bank decisions from across the region.
The Nikkei's gains were supported by financial stocks and consumer cyclical stocks, with names such as… Mizuho Financial Group and Mitsubishi UFJ Financial Group Among the winners on the index.
Separately, shares of video game company Nintendo rose more than 3.8% on Monday, after the Saudi sovereign wealth fund was reported to be considering increasing its stake in the company and other Japanese gaming counterparts.
the yen The index rose 0.16% to trade at 148.46 after reaching its weakest level in more than two months earlier in the session. The dollar rose after the release of a strong US jobs report on Friday, which also dampened expectations that the Federal Reserve would need to cut interest rates by another 50 bhun.
The yen was also under pressure after new Japanese Prime Minister Shigeru Ishiba said he did not “believe the environment is ready for an additional rate hike” from the Bank of Japan.
Three central banks are scheduled to announce their interest rate decisions this week: the Bank of Korea, the Reserve Bank of New Zealand and the Reserve Bank of India.
Economists polled by Reuters expect the Bank of Korea and the Reserve Bank of New Zealand to cut interest rates, while the Reserve Bank of India will hold out.
The Bank of Korea is expected to cut its benchmark interest rate on Friday to 3.25% from 3.5%, while the Reserve Bank of New Zealand is expected to cut interest rates by 50 basis points to 4.75% on Wednesday.
Last August, the Reserve Bank of New Zealand surprised economists after it cut its interest rate to 5.25% from 5.5%.
In the United States, stocks rose on Friday after a stronger-than-expected jobs report gave investors confidence about the health of the economy.
The data showed that nonfarm payrolls grew by 254,000 jobs in September, far exceeding the expected gain of 150,000 jobs from economists surveyed by Dow Jones. The unemployment rate fell to 4.1% despite expectations that it would stabilize at 4.2%.
The S&P 500 rose 0.9%, while the Nasdaq Composite jumped 1.22%. The Dow Jones Industrial Average added 0.81% to hit an all-time closing high of 42,352.75.
— CNBC's Lisa Kailay Hahn and Alex Haring contributed to this report.
