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The stock market has experienced heavy rain, then clear skies, and then cloudy with occasional rain. In early August, the stock market was hit by a fierce "summer storm" (Bank of Japan and Ueda shock). It is called the "Reiwa Black Monday," but that's not accurate.
However, it has since rebounded strongly. The Nikkei Average (on market basis) hit a low of 0.03 million 1156 yen on August 5. The decline from the all-time high of 0.04 million 2426 yen on July 11 was 0.01 million 1270 yen, a decrease of 26.6%. It's quite a drop.
In terms of the charts, it completely collapsed. A large lower shadow formed. Surprisingly, it rose to 0.03 million 8408 yen on August 22. The increase was 7252 yen, a rise of 23.5%. It has recovered 64.3% of the decline. The rebound is fast. Some market participants are even saying that the next step is a full recovery.
A fierce rebound. Firstly, this is due to the unwinding of the yen carry trade caused by the interest rate hike and the systematic trading strategy... etc.
However, it has since rebounded strongly. The Nikkei Average (on market basis) hit a low of 0.03 million 1156 yen on August 5. The decline from the all-time high of 0.04 million 2426 yen on July 11 was 0.01 million 1270 yen, a decrease of 26.6%. It's quite a drop.
In terms of the charts, it completely collapsed. A large lower shadow formed. Surprisingly, it rose to 0.03 million 8408 yen on August 22. The increase was 7252 yen, a rise of 23.5%. It has recovered 64.3% of the decline. The rebound is fast. Some market participants are even saying that the next step is a full recovery.
A fierce rebound. Firstly, this is due to the unwinding of the yen carry trade caused by the interest rate hike and the systematic trading strategy... etc.
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Good morning to all Moomoo users!Here's an overview of this morning's turnaround. Thank you in advance.
Market Overview
In today's Tokyo stock market, the Nikkei Stock Average started at 33032.30 yen, 105.95 yen higher than the previous business day, and the TSE stock price index (TOPIX) fell 5.74 points to 2349.18.
Top news
The Bank of Japan also keeps the government's efforts in mind and expects appropriate decisions - Prime Minister Kishida
Prime Minister Fumio Kishida expressed his recognition at the press conference on the evening of the 13th that he would like to expect appropriate decisions on the Bank of Japan's monetary policy, keeping in mind the government's efforts aimed at overcoming deflation. Prime Minister Kishida stated that “we have confirmed that the Bank of Japan and the government will cooperate closely through the Accord,” and emphasized that “we are in a position to make efforts toward the goal” aiming for the sustainable and stable realization of price stability targets. The government said it was aiming for a shift from a cost cut economy led by sustained wage increases in order to completely overcome deflation, and the Bank of Japan expressed a sense of expectation that “I would like the Bank of Japan to keep it in mind and cooperate with the government.”
The yen has risen rapidly, and the 140 yen breakthrough that has come into view is progressing, and the collapse of the carry deal
1...
Market Overview
In today's Tokyo stock market, the Nikkei Stock Average started at 33032.30 yen, 105.95 yen higher than the previous business day, and the TSE stock price index (TOPIX) fell 5.74 points to 2349.18.
Top news
The Bank of Japan also keeps the government's efforts in mind and expects appropriate decisions - Prime Minister Kishida
Prime Minister Fumio Kishida expressed his recognition at the press conference on the evening of the 13th that he would like to expect appropriate decisions on the Bank of Japan's monetary policy, keeping in mind the government's efforts aimed at overcoming deflation. Prime Minister Kishida stated that “we have confirmed that the Bank of Japan and the government will cooperate closely through the Accord,” and emphasized that “we are in a position to make efforts toward the goal” aiming for the sustainable and stable realization of price stability targets. The government said it was aiming for a shift from a cost cut economy led by sustained wage increases in order to completely overcome deflation, and the Bank of Japan expressed a sense of expectation that “I would like the Bank of Japan to keep it in mind and cooperate with the government.”
The yen has risen rapidly, and the 140 yen breakthrough that has come into view is progressing, and the collapse of the carry deal
1...
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