Tokyo stocks rebound after Fed's aggressive rate stance digested

Economy

Tokyo stocks rebounded Tuesday as investors bought back shares that tumbled the previous day after U.S. Federal Reserve Chairman Jerome Powell hinted late last week that aggressive interest rate hikes will continue to counter surging inflation. The 225-issue Nikkei Stock Average ended up 316.62 points, or 1.14 percent, from Monday at 28,195.58. The broader Topix index finished 24.28 points, or 1.25 percent, higher at 1,968.38. On the top-tier Prime Market, gainers were led by mining, oil and coal product, and machinery issues.

Kyodo News

Kyodo News