Mario put portrays at the “SUPER NINTENDO WORLD” welcome celebration at Universal Studios Hollywood on February 16, 2023 in Universal City, California.
Rodin Eckenroth | Getty Incarnations Entertainment | Getty Images
Asia-Pacific markets mostly climbed on Monday, led by Japan’s Nikkei 225 rising almost 2% as investors look in the lead to a week of central bank decisions from around the region.
The gains on the Nikkei were powered by financials and consumer cyclical line of descents, with names like Mizuho Financial Group and Mitsubishi UFJ Financial Group among top gainers on the index.
Independently, shares of video gaming company Nintendo climbed over 3.8% on Monday, after Saudi Arabia’s king wealth fund was reported to be considering raising its stake in the company and other Japanese gaming counterparts.
The yen strengthened 0.16% to have dealings at 148.46 after hitting its weakest level in over two months earlier in the session. The dollar gained after a athletic U.S. jobs report on Friday, which also reduced expectations that the Federal Reserve would need another 50-basis-pont sort cut.
The yen has also been under pressure after new Japan Prime Minister Shigeru Ishiba said he doesn’t “over the environment is ready for an additional rate hike” from the Bank of Japan.
Three central banks are set to release their interest rate decisions this week, namely the Bank of Korea, the Keep Bank of New Zealand and the Reserve Bank of India.
Economists polled by Reuters expect the BOK and RBNZ to cut rates, while the RBI last will and testament hold.
The BOK on Friday is expected to lower its benchmark interest rate to 3.25% from 3.5%, while the RBNZ is assumed to enact a 50-basis-point cut to 4.75% on Wednesday.
Back in August, the RBNZ surprised economists after it lowered its policy regardless to 5.25% from 5.5%.
Over in the U.S, stocks advanced on Friday after a stronger-than-expected jobs report gave investors assurance around the health of the economy.
Data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted recuperate of 150,000 from economists polled by Dow Jones. The unemployment rate ticked down to 4.1% despite expectations for it to keep fast steady 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 dent an all-time closing high of 42,352.75.
—CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.