Japan’s Topix index slid more than 5 percent, the most since the aftermath of the March 2011 tsunami and nuclear disaster, as financial companies plunged amid rising bond yields. The rout triggered a halt in Nikkei 225 Stock Average futures trading in Osaka.
Japanese stocks fell for a second day, with the Topix Index closing below 1,000 for the first time in a month, after data on U.S. manufacturing missed estimates and the yen rose to a four-week high, damping the earnings prospects for exporters.
Ayako Sera, a market strategist at Sumitomo Mitsui Trust Bank Ltd., which has 33 trillion yen ($359 billion) in assets, talks about Japan’s Government Pension Investment Plan’s potential re-weighting of bond holdings.
Japanese shares fell, with the Nikkei 225 Stock Average slipping from a 32-month high, as the yen climbed against the dollar after hitting its lowest level in 2 1/2 years before a Bank of Japan policy decision tomorrow.
Japan shares fell, with the Nikkei 225 Stock Average posting its biggest weekly decline since November, as the yen rose after Cyprus’ bailout request was rejected by Russia and new Bank of Japan Governor Haruhiko Kuroda failed to announce fresh stimulus.
The Nikkei 225 Stock Average fell, posting its biggest two-day drop since November 2011, as the yen strengthened ahead of an Italian bond sale after inconclusive elections stoked European debt crisis concern.