In Asian markets, South Korea’s Kospi index jumped 17.9 per cent, reversing its three-day losing streak amid renewed buying in chip stocks. Japan’s Nikkei 225 gained four per cent.
Meanwhile, the Bank of Japan has left its policy rate unchanged at one per cent. However, in its outlook, the BOJ said that core inflation was likely to accelerate to a level above two per cent from the second half of current fiscal year.
Major European indices were trading with gains today. Germany’s DAX rose over 0.3 per cent, and London’s FTSE 100 increased by 0.2 per cent, when reports last came in.
Meanwhile, Euro area annual inflation rose slightly to 2.9 per cent in July this year, up from 2.8 per cent in June. According to a flash estimate from Eurostat, energy prices increased by 10 per cent on an annual basis, up from 8.5 per cent in June.
