MOSCOW (Pakistan Point News / Sputnik - 13th June, 2023) Shares of major Japanese companies hit a 33-year high on Tuesday amid expectations that the US Federal Reserve will not raise interest rates when it meets later this week, Japan's Kyodo news agency reported.
The Nikkei 225 Stock Average, Japan's version of the Dow Jones Industrial Average, grew by 1.8% to 33,018.65 points compared to Monday's value, clearing the 33,000 mark for the first time since July 19, 1990, the report said.
The Topix index, Japan's own S&P 500, in turn, reached 2,264.79 points, breaking the record set on July 26, 1990.
The capitalization of companies listed on the Tokyo Stock Exchange rose to about 802.95 trillion Yen ($5.75 trillion) for the first time since the exchange was restructured in April 2022.
Traders around the world have been betting that the US Federal Reserve will take a pause in raising interest rates for the first time in more than a year at its meeting scheduled for June 13-14. However, some experts say those hopes are in vain as the regulator is still aiming to tame inflation.
