Asian stocks gain on rates and tech results
Asian stock markets rose, led by strong gains in the Japanese "Nikkei 225" index, which increased by about 4% after the Bank of Japan decided to keep interest rates at 1%, despite accelerating inflation. There are also expectations of further inflation threats due to tensions in the Middle East. South Korea's "KOSPI" index also experienced a significant jump of over 14%, supported by positive results from major technology companies, despite forecasts of monthly losses approaching 25%. In China, stock indexes rose modestly, while the manufacturing sector unexpectedly returned to contraction in July, amid ongoing economic challenges.
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