Yen Rises, Asian Stocks Mixed as Ueda Signals Potential for Further BOJ Rate Hikes

The yen strengthened and Asian equities recovered from losses following remarks by Bank of Japan Governor Kazuo Ueda, who indicated the central bank`s commitment to potential interest rate increases if economic conditions align with projections. Ueda`s comments came after his deputy`s attempts to soothe market concerns following a global equity selloff triggered by the Bank of Japan`s July rate hike. Meanwhile, Chinese shares rose on news of government measures to support the housing market. Global investors await Federal Reserve Chair Jerome Powell`s speech at the Jackson Hole symposium for insights into the future direction of US monetary policy.