December 27, 2024 at 01:52 am EST
(MT Newswires) -- Japanese shares closed with gains on Friday as Bank of Japan policymakers suggested a potential rate hike shortly, despite keeping rates steady at 0.25% in December to assess wage trends and US policies.
The Nikkei 225 gained 1.78%, or 706.02 points, to finish at 40,274.08.
A summary of the Dec. 18-19 meeting revealed that BOJ policymakers were divided, citing uncertainties over Japan's tax policy, US fiscal direction, and weak profitability among small firms.
However, some members indicated readiness for a rate hike, with one saying a move "in the near future" was likely as Japan's economy permitted adjustments to monetary accommodation.
In economic data, Tokyo's core CPI rose 2.4% year on year in December, slightly below the 2.5% forecast and up from 2.2% in November. A measure excluding fresh food and fuel increased by 1.8%, down from 1.9%.
Retail sales rose 2.8% in November to 14.2 trillion yen, exceeding the 1.7% forecast, while sales increased 1.8% month-on-month from October's 13.8 trillion yen.
Construction orders fell 10.2% year on year in November, diverging from the historical average growth of 2.69%.
Industrial production dropped 2.3% in November, led by declines in machinery and vehicles, but December's output is forecast to rise by 2.1%, with a 1.3% increase expected in January.
Unemployment remained steady at 2.5% in November, while employment reached a record 68.1 million and the labor force grew to 69.8 million.
In corporate news, One REIT (TYO:3290) will sell three Minami-Shinagawa office buildings to Raysum (TYO:8890) for 6.7 billion yen, with the transfer set for March 11, 2025, as part of a portfolio upgrade.
Hagiwara Electric Holdings (TYO:7467) aims to boost market valuation through its "Make New Value 2026" plan, focusing on profitability, capital efficiency, and stakeholder engagement. The company's low P/B ratio signals undervaluation despite strong ROE.
Sumber : MT Newswires
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