The Nikkei Average continues to rise slightly, and the Bank of Japan meeting, FOMC holding back, adjustment, and tug-of-war with the depreciation of the yen
July 30, 2024 4:10 PM GMT+9 (some excerpts)
The Nikkei Average closed with a continuous increase of 38,525 yen 95 yen, 57 yen 32 yen higher than the previous business day in the Tokyo stock market. Ahead of the Japan-US central bank meeting and financial results announcements of major companies within the week, sales with balance adjustments declined in the morning and were soft, but in the afternoon they were reluctant to decline and turn positive as the exchange rate fluctuated in the direction of depreciation of the yen.
Even after the Nikkei Average depreciated by 227 yen, the fight in the negative zone continued, and the decline widened to 391 yen depreciation at one point. Ahead of events such as the Bank of Japan's monetary policy meeting and the US Federal Open Market Committee (FOMC), sales with adjusted holdings suppressed increases. In the market, voices were heard saying “they were held back due to a sense of caution against financial market fluctuations (due to passing the event)” (fund manager Koji Toda of Resona Asset Management).
Even after the Nikkei Average depreciated by 227 yen, the fight in the negative zone continued, and the decline widened to 391 yen depreciation at one point. Ahead of events such as the Bank of Japan's monetary policy meeting and the US Federal Open Market Committee (FOMC), sales with adjusted holdings suppressed increases. In the market, voices were heard saying “they were held back due to a sense of caution against financial market fluctuations (due to passing the event)” (fund manager Koji Toda of Resona Asset Management).
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