Arab News Headlines

Japanese Stocks Surge to 32-Year High

Japanese stocks rose Friday to a three-decade high after the US Congress approved a bill raising the debt ceiling.

The Nikkei index rose 1.21 percent to 31,384.93 points, the highest close since July 1990. The broader Topix index rose 1.55 percent to 2,182.70 points.

Regarding Tokyo’s monetary moves to combat inflation, Governor of the Bank of Japan Kazuo Ueda told lawmakers that the central bank has no timeframe for achieving the 2 percent inflation target.

Japan’s core consumer price inflation rate reached 3.4 percent in April, well above the Bank of Japan’s target of 2 percent, due to higher food and service prices.

Source: Qatar News Agency