CNBC Daily Open: Inflation fight may go down bumpy path

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Nikkei rallies
Asia markets were largely higher Thursday as Japan slipped into a recession. The Nikkei 225 rose, closing above the 38,000 level for the first time since 1990 despite GDP missing estimates. The broad-based Topix also advanced. Overnight, U.S. stocks also climbed as Wall Street rebounded modestly from the previous session. The benchmark S&P 500 rose 0.96%, while the Nasdaq Composite advanced 1.3%. The blue-chip Dow also ended higher, adding over 100 points.

Japan in recession
Japan has lost its crown as the world's third-largest economy to Germany. Japan's nominal GDP in 2023 totaled 591.48 trillion yen ($4.2 trillion) while Germany's reached 4.12 trillion euros ($4.46 trillion) in the same period. Once the second largest economy in the world, Japan slipped into recession after its economy shrank for two quarters in a row due to weak domestic demand.

BRICS millionaires soar
A report by Henley & Partners forecast that BRICS nations will see an 85% jump in millionaires over the next decade, exceeding the rise in G7 countries. "The 85% forecast for BRICS will be the highest wealth growth of any bloc or region globally," Andrew Amolis, wealth analyst at New World Wealth told CNBC.

TSMC surges
Shares of Taiwan Semiconductor Manufacturing Company hit an all-time high Thursday after Morgan Stanley raised the price target on chip designer Nvidia, citing an increase in AI demand. TSMC, the world's largest producer of advanced processors, makes chips for companies such as Nvidia and Apple.

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