Japanese markets eked out modest gains

Japanese markets eked out modest gains while the yen lagged after the Bank of Japan held rates on hold but signaled that it was likely to continue raising interest rates in 2026.

Earlier in the day, data showed that Japan's headline inflation rate slowed sharply to 2.1 percent in December, its lowest level since March 2022, on the back of government subsidies.

January PMI readings delivered an upbeat signal, indicating a broadening recovery across the Japanese private sector.

The Nikkei average edged up by 0.29 percent to 53,846.87 while the broader Topix index settled 0.37 percent higher at 3,629.70.

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