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Japanese Equities Rise as Fed Signals to Keep Rates Steady

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Japanese shares tracked Wall Street's positive lead at Friday's open, as traders scaled back expectations for a near-term US rate increase.

The Nikkei 225 started the session at 64,498.94, climbing by 284.5 points or 0.4%.

Federal Reserve Governor Christopher Waller indicated he favors holding rates steady, provided price pressures keep easing.

Policymakers will meet in Washington on Sept. 15-16, having held rates unchanged at all five meetings this year.

At home, Japanese consumer spending shrank for the eighth straight month in July, according to government data released Friday.

Real household outlays dropped 3.6% year over year year, steeper than the 1.6% decline anticipated by markets.

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