Bank of Japans Reassurance Sparks Asian Market Rebound

Asian shares rose on Wednesday, led by Japan`s Nikkei 225 index, which surged over 1% following a Bank of Japan official`s comments suggesting the central bank would maintain its current interest rate policy amidst market instability. The Nikkei`s rebound came after a volatile week that saw the index experience its worst day since 1987. The official`s remarks helped to ease market concerns about rising interest rates and their impact on carry trades, a popular strategy among investors. Meanwhile, China reported slower-than-expected export growth in July, while other Asian markets, including Hong Kong and South Korea, also showed gains.