What's Wrong with Japan? Stocks Suddenly Plummet at the Start of the Week
The Japanese stock market opened lower at the start of trading after disappointing economic growth data showed results. Japan's gross domestic product (GDP) fell 0.6% in the July-September quarter compared to the previous three months—worse than the expected 0.4% decline. This data immediately weighed on market sentiment and caused several leading stocks to decline.
The electronics, technology, and banking sectors were the hardest hit. Lasertec fell 1.8%, SoftBank Group fell 1.6%, and Resona Holdings fell 1.8%. Meanwhile, the US dollar strengthened against the yen to 155.21, up from 154.59 at the close of the previous trading session. This currency movement has added pressure to the stock market, especially for companies sensitive to yen fluctuations.
Investors are now awaiting policy signals from Prime Minister Sanae Takaichi, who is expected to respond quickly to the weakening economy. This uncertainty was reflected in the Nikkei Index, which fell 0.3% to 50,334.02. Market participants remained cautious as they awaited further economic policy direction to determine whether the market could recover in the near future. (az)
Source: Newsmaker.id
