Stock market today: Asian benchmarks mostly climb despite worries about US economy
TOKYO (AP) — Asian shares mostly rose Friday despite worries about the economic outlook and inflation in the U.S. and the rest of the world.
The Bank of Japan ended a policy meeting with no major changes, keeping its benchmark interest rate in a range of 0 to 0.1%. In March, it raised the key rate from minus 0.1%, citing signs that inflation had reached the central bank’s target of about 2%.
Japan’s benchmark Nikkei 225 added 0.8% to 37,934.76, while the U.S. dollar edged up to 156.22 Japanese yen from 155.58 yen.
Although a weak yen is a boon for giant Japanese exporters such as Toyota Motor Corp., whose overseas earnings are boosted when converted into yen, some Japanese officials, including Finance Minister Shunichi Suzuki, have been raising concern that an overly weak currency is not good for the Japanese economy in the long run.