Asian Stocks Rise as BOJ Maintains Rates, US Jobs Data Boosts Risk Appetite

Asian stocks climbed, continuing a global equities rally, as US jobs data suggested a potential soft landing for the American economy. Investors are now focused on a briefing from Bank of Japan Governor Kazuo Ueda after the central bank held interest rates steady despite rising inflation. While the BOJ acknowledged increased consumer spending and anticipated inflation in line with its targets, its next move remains uncertain. Market watchers are looking for clues from Ueda about the BOJ`s stance on potentially raising rates in the future. Meanwhile, positive US jobs data eased fears of an overly aggressive Federal Reserve, further boosting market sentiment. However, some analysts caution that the current market optimism may be short-lived, citing high valuations and potential earnings disappointments. In China, rumors of relaxed housing market restrictions boosted developer stocks, while banks maintained lending rates despite pressure to stimulate the struggling economy.