Japanese stocks rose marginally on Thursday after the Federal Reserve announced its first interest rate hike in more than three years, improving investor sentiment amid inflation worries.
The benchmark Nikkei 225 closed up 213.25 points, or 0.33%, at 64,136.25.
Oil prices slipped even as the attacks by Iran-backed Houthis on the Saudi Arabian assets intensified, disrupting key energy supply chains, and amid a growing global clamor over restoring freedom of navigation in the Strait of Hormuz.
French President Emmanuel Macron, in a post on a social media platform 'X,' said he was in talks with the Iraqi Prime Minister, the Crown Prince of Saudi Arabia, and the Emir of Qatar to open alternative routes to reduce dependencies on traditional routes to secure our energy supplies.
On the corporate side, Italian automaker Ferrari (RACE.MI) said that its wholly owned Italian subsidiary, Ferrari S.p.A. has signed a partnership deal with the Japanese technology conglomerate Rakuten Group (TYO:4755), effective Jan. 1, 2027.
Also, Nippon Steel (TYO:5401) Slovak unit U.S. Steel Kosice (USSK) has decided to invest 900 million euros in a new Electric Arc Furnace and a new Air Separation Unit at Košice Steelworks.