Posted 2/16/2024, 10:02:00 AM
Asian Stocks Rally on Investor Optimism Despite Japan's Recession
- Japan's stock market rallied, lifting Asian shares, despite Japan slipping into recession in 2023
- Nikkei 225 index closed above 38,000 points, near its 1989 peak, defying economic gloom
- Rally driven by foreign investors lured by weak yen rather than strong economics
- Other Asia markets also rose following gains on Wall Street, which rebounded from losses
- Fed official eased fears of higher rates, saying slight inflation rise still consistent with 2% target
