The Tokyo stock market was down across the board on Monday the 30th. The Nikkei 225 stock average fell by more than 2,000 yen from the previous week’s closing price. The closing price was 1,910.01 yen lower at 37,919.55 yen. The drop was the fifth largest on record. The market had risen sharply last weekend, but there was a reversal following the results of the LDP presidential election. Last weekend, on the 27th, in the first round of voting in the afternoon presidential election, Minister of Economic Security Takaichi came in first. Takaichi indicated an intention to implement monetary easing in opposition to the Bank of Japan’s interest rate hike policy, which led to a rapid depreciation of the yen and appreciation of the dollar to the mid-146 yen range against the dollar. The Nikkei average extended its gains on expectations that the weaker yen would lead to improved corporate performance. The closing price at 3:00 p.m. was 903 yen higher than the previous day. However, in the runoff election after the transaction was completed, the new president, Shigeru Ishiba, won in a comeback. As Ishihara made it clear that he would respect the Bank of Japan’s interest rate hike, the yen quickly recovered to the 142 yen range per dollar. In response to this, Japanese stocks fell sharply on the 30th. The Tokyo Stock Price Index (TOPIX) was down 95.00 points at 2,645.94. Yomiuri.
>>1 It’s been so unstable these past six months that I don’t really care if it drops below 2,000 yen. It will probably rebound tomorrow or the day after. Then, two weeks later, it will crash again for some stupid reason and then rebound again.
I’ve never seen an administration that has so little hope in it. It’s full of old people who are a pain in the ass, it’s unclear what changes will be made, and on top of that, they’re going to increase taxes massively. It’s rotten even before it starts.
He should step down already. It wasn’t just the Japanese who sold out. The world has decided that Ishiba is a negative for Japanese companies and the economy. Several people must have died in this short time because of this decline.
Usually, buying occurs in high-quality stocks that have been sold due to the lure of “buy when prices are low across the board.” But the problem is Mr. Ishihara. Those who don’t have it lose everything. Excessive treatment can make the wound worse.
Japanese people are grateful to Ishiba for the strong yen. If high stock prices were appreciated, neither the Kishida administration nor the Biden administration would have collapsed, lol, right-wing netizens.
It doesn’t change the fact that the United States will lower interest rates, and the yen will likely remain strong and stable for a while, but are they really planning to call a snap election in this situation?
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