Asian stocks sit tight, yen firms as BOJ beckons
) and chipmaker AMD suggested a divide in the AI landscape while the yen was firm ahead of the Bank of Japan's policy decision.
That along with escalating geopolitical tensions in the Middle East kept sentiment in check with the Israeli government claiming it killed Hezbollah's most senior commander in an air strike on Beirut on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.23% higher but on course for a 1.2% decline for the month, snapping a five-month winning streak.
But a slew of factors including likely official intervention, a sell-off in equities and a reassessment of popular carry trades have helped the yen rebound to a 12-week high hit last week. "I think the conundrum is that for the BOJ to signal it is serious about finally starting down the path of tighter monetary policy, just scaling back its bond buying programme is not enough," said Stuart Cole, chief economist at Equiti Capital.
FED PIVOT While the Fed is widely expected to hold interest rates, the spotlight is squarely on whether the central bank opens the door to a September cut.
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