The Japanese stock market suffered significant losses during the first trading session of February on Monday, after a summary of opinions released by the Bank of Japan that morning revealed that one member preferred to continue raising interest rates to prevent the real interest rates from becoming excessively negative. Additionally, the summary hinted at increasing upward risks to Japanese inflation alongside rising inflation expectations exceeding the target level, raising market concerns about the Bank of Japan's continued tightening of policy, specifically the continuation of the interest rate hike cycle. At the same time, Japanese stocks weakened after data from S&P Global showed that manufacturing activity in Japan had rebounded less than expected in January, with the manufacturing purchasing managers' index (PMI) recording 48.7, lower than the previous reading of 49.6 points in December. As a result, Japanese stocks declined in subsequent trading sessions, closing the day with sharp losses; the Nikkei index fell by approximately 2.66% or 1,052.40 points, finishing the session at 38,520.40 points, marking the worst daily performance in a week. Meanwhile, the Topix index dropped by 2.45%, closing at 2,720.39 points.
Markets
Related Posts
Markets
Britain seeks business input on potential retaliation to U.S. tariffs
Thursday 03rd April 2025Commnets
