Japan's central bank is expected to continue its interest rate hike cycle despite the Liberal Democratic Party's recent electoral setback, which saw it lose its majority for the first time since 2009. Analysts believe that while political instability may delay hikes, sustained yen weakness could prompt action as early as December or January. The Bank of Japan's independence is seen as crucial, with expectations of corporate earnings growth supporting market optimism.
U.S. markets showed mixed results, with the S&P 500 and Dow slightly down while the Nasdaq gained 0.18%. Tokyo Metro's IPO surged nearly 45%, marking Japan's largest in six years, while the IMF downgraded China's growth forecast to 4.8% for this year. Despite a recent slowdown, the S&P remains above key moving averages, indicating potential for continued growth, supported by robust U.S. consumer spending.
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