Japan's Economy Shows Signs of Resilience Amid Global Challenges

The Bank of Japan released its quarterly 'tankan' survey on Thursday, reporting that large manufacturers' sentiment rose to 24 from 22. This is a positive read on the economy and marks the sixth consecutive quarter of improvement in business sentiment.

The report also showed that sentiment among large non-manufacturers fell to 35 from 37. The survey measures companies' expectations of good conditions minus those feeling pessimistic.

Despite widespread challenges, including soaring oil prices due to the war in Iran, the Bank of Japan has raised its benchmark interest rate twice this year to 1.25%, a three-decade high.