No Data
No Data
Asian stocks: Nikkei rises 86 points in half a day, UBS Group urges buying opportunities for Japanese banks, electronic components, and semiconductor stocks.
The US stock market was closed for the Labor Day holiday. Tadashi Kakuchi, Japan Bond Investment Portfolio Manager at PIMCO's Japan branch, expects the Bank of Japan to raise interest rates again as early as January next year; despite geopolitical uncertainties and financial market instability in August, the Bank of Japan's policy of monetary normalization has not changed. The yen rose 0.2% during the Asian session, and the dollar fell to 146.57 yen. The Nikkei Index opened higher by 44 points this morning (3rd), rose by 266 points in early trading, reached a high of 38,967, but faced resistance, closing up 86 points or 0.2% at 38,787 by midday. Major banks
The Bank of Japan Is Certain to Raise Rates Further. The Question Is When
Express News | S&P report: Japan's banks are ready to deal with market volatility.
Asian Shares End On Muted Note; Nikkei Outperforms
Express News | Japan Foreign Reserves $1219.077 Bln at End-July ($1231.495 Bln at End-June)--Mof
Japan's banking industry market cap evaporated 85 billion US dollars.
On August 5th, Gelonghui reported that the stock prices of Mitsubishi UFJ Financial Group and Mizuho Financial Group suffered the largest historical decline on Monday, and the stock market crash caused Japanese bank stocks to plummet altogether. At the close of trading today, Japan's largest bank, Mitsubishi UFJ Financial Group, fell 18%, Mizuho Bank fell 20%, and Sumitomo Mitsui Financial Group fell nearly 16%, all hitting historic lows. These three companies lost about 12 trillion yen (85 billion U.S. dollars) market cap during the past two trading days. The stock market crash of these banks highlights how sensitive they are to fluctuations in interest rate expectations. The sharp decline in bank stocks also highlights the efforts of the Bank of Japan to implement monetary policy.
No Data