Opening of Tokyo Stock Market Sees Nikkei Average Drop
Today, at the commencement of trading at the Tokyo Stock Market, the Nikkei average experienced a significant decline of 446.74 yen compared to the previous business day, settling at 32,444.42 yen. This development, captured in August 2015 at the Tokyo Stock Exchange by Yuya Shino of Reuters, unfolds against a backdrop of increasing concerns.
Market Falters Amidst Bank of Japan’s Yield Curve Management Policy Deliberations
In an unexpected turn of events, the Tokyo stock market opened today with the Nikkei average at 32,444.42 yen, marking a substantial decrease of 446.74 yen from the preceding business day. Speculation surrounding the Bank of Japan’s contemplation of revising its yield curve management (YCC) policy has triggered a strengthening of the yen against the dollar, thereby exerting pressure on the markets. As a consequence, all but banks witnessed a decline in prices among the 33 industries listed on the Tokyo Stock Exchange.
Variable Performances of Key Market Players
Individually, leading contributors to the index experienced mixed performances. Fast Retailing, a significant market player, observed a decline of 2.1%, whereas Toyota Motor Corp, a mainstay in the industry, encountered a decrease of 1.4%. Contrarily, major banking institutions such as Mitsubishi UFJ Financial Group displayed resilience, with their shares surging over 1% amidst speculations regarding potential monetary easing reforms.
At the opening of the Tokyo stock market, the Nikkei average began with a drop of 446.74 yen from the previous business day to 32,444.42 yen. This photo was taken at the Tokyo Stock Exchange in August 2015. (Reuters/Yuya Shino)
[TOKYO (Reuters)]- The Nikkei average opened at 32,444.42 yen, down 446.74 yen from the previous business day in the Tokyo stock market at the open. The Yen has strengthened in the dollar/yen exchange market following reports that the Bank of Japan will discuss revising its yield curve management (YCC) policy, weighing on the markets. Of the 33 industries on the Tokyo Stock Exchange, prices fell for all but banks.
Individually, Fast Retailing, a major contributor to the index, fell 2.1%, while mainstay Toyota Motor Corp fell 1.4%. On the other hand, major banks such as Mitsubishi UFJ Financial Group have all been firm, rising more than 1% on speculation about monetary easing reform.
#Reuters
