Asia stocks rise while yen retreats after BOJ rules out rate hikes

Asian share markets extended their gains, with a notable rise in the Nikkei. This surge followed the Bank of Japan’s unexpected indication that it would not raise interest rates while markets remain volatile, leading to a sharp fall in the yen.

The Nikkei’s increase came after the rally, suggesting that investors are regaining confidence after the recent market turmoil. The index had slumped and Bank of Japan (BOJ) Deputy Governor Shinichi Uchida confirmed that the central bank would refrain from raising interest rates during periods of financial instability.

Read more for the latest updates about the Nikkei here.