Japan Stocks Rise as Chip Stocks Rally Overshadow IMF Downgrade
MT Newswires Live
Jul 09
Japanese shares rebounded on Thursday, tracking a rally in semiconductor stocks overseas that overshadowed the International Monetary Fund's decision to lower its growth forecast for the country this year.
The Nikkei 225 rose 227.3 points or 0.3%, to open at 67,046.37. Brent crude edged up to $78.8.
The upbeat sentiment came despite the IMF trimming its Japan economic growth estimate for 2026 to 0.6% from the 0.7% projection in April.
The IMF noted that while fiscal support measures will offer a cushion, higher energy prices continue to weigh on the economy.
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