Asian Stocks Rally on Tech Gains as RBNZ Surprises with Rate Hold

Key Facts

1Asian stocks rose led by Nikkei and Kospi indices following a rally in technology shares.

2The Reserve Bank of New Zealand surprised markets by holding interest rates steady ahead of the Federal Reserve's decision.

Asian stocks rose led by the Nikkei and Kospi indices following a rally in technology shares. Seeking Alpha reported that the gains were supported by optimism regarding regional GDP growth as markets prepared for upcoming global monetary policy decisions.

The Reserve Bank of New Zealand surprised markets by holding interest rates steady at 2.75% on October 28, 2026, contrary to forecasts of a hike to 3%. This decision follows data from October 21, 2026, which showed the quarterly inflation rate slowing to 0.7% from a previous 1.5%.

The ANZ Business Confidence index for New Zealand is scheduled for release on October 29, 2026, with a forecast of 51.5. Investors are also awaiting New Zealand's employment change and unemployment rate data due on November 3, 2026.