The Bank of Japan has ended its negative interest rate policy, while the RBA held rates at 4.35%, as expected.
Asia-Pacific markets largely fell Tuesday as investors assess central bank monetary policy decisions from the Bank of Japan and the Reserve Bank of Australia.at its March meeting, hiking interest rates for the first time in 17 years and raising its benchmark interest rate from -0.1% to a range of 0% to 0.1%. The bank also abolished its yield curve control policy, marking a historic shift in policy.Separately, the RBA has held its benchmark rate at 4.
Separately, leading solar products manufacturer China Longi will lay off 5% of its staff, due to"market changes and improve organizational efficiency," Last week, initial estimates from Japan's largest union, Rengo, indicated that major firms had agreed to a pay increase of 5.28% — the highest in 33 years.
As concerns swirl about lofty stock market valuations and investors focus on AI companies, strategists at Berenberg see one sector as a relative bargain. "They are really starting to become very creative in the AI world," Stutland, a portfolio manager at the firm, told CNBC's"The stock market has been on an upwards tear since last fall, with all three major indexes notching new record closes already in 2024.
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