Japanese stocks fall on stronger yen; BOJ conference in focus next week

Japanese stocks dropped on Friday
in thin trade, with financiers taking earnings after recent gains
as the yen reinforced on subsiding expectations of radical
monetary policy alleviating from the Bank of Japan. The Nikkei shed 1.1 percent at 16,627.25. For the
week, it added 0.8 percent. BOJ Governor Haruhiko Kuroda’s remarks in a BBC Radio 4
interview quashed expectations that Japan may be preparing to
take radical “helicopter cash” economic stimulus steps, under
which the central bank would fund federal government spending plans to eliminate

Kuroda’s comments sent the yen to six-week lows versus
major counterparts, and gave investors a reason to sell shares. However analysts said that the marketplace is still expecting some
type of alleviating at the BOJ’s policy conference on July 28-29.

” Market expectations do not include helicopter money now,
but investors anticipate some kind of reducing,” stated Chihiro Ohta,
general manager of financial investment research study at SMBC Nikko Securities,
including that such hopes are limiting succumbs to the time being.

The broader Topix decreased 0.9 percent to 1,327.51,
with only 1.59 billion shares changing hands, the most affordable level
considering that July 5. The JPX-Nikkei Index 400 shed 1.0 percent to

( Reporting by Ayai Tomisawa and Lisa Twaronite; Editing by
Jacqueline Wong).

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *