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☆ Indian female wrestler is disqualified from gold medal match after making Olympic history
▼ + stars: | 2024-08-07 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +3 min

Despite being disqualified from the gold medal match just hours after she made Olympic history, Vinesh Phogat is still being hailed by many online for her bravery and resilience. The wrestler from Team India, who on Tuesday became the first woman from her country to make the Olympic finals, will not be participating in the women’s wrestling 50kg gold-medal match due to being "a few grams" over the weight class, according to the Indian Olympic Association. The Indian Olympic Association didn’t elaborate on the matter and requested privacy for Phogat. In a January 2023 letter, the group accused Singh of sexual harassment against several young female wrestlers. Indian wrestler Vinesh Phogat is detained by the police while attempting to march to India's new parliament in New Delhi on May 28, 2023.

Persons: Phogat, USA’s Sarah Hildebrandt, Yui Susaki, Ukraine’s Oksana Livach, Cuba’s Yusneylis Guzman Lopez, Brij Bhushan Sharan Singh, Singh, Singh “, ”, Vinesh Phogat, Arun Thakur, ” Phogat, Brij Bhushan, India’s, Narendra Modi, Modi hasn’t Organizations: Team India, Indian Olympic Association, Wrestling Federation of India, Tokyo, Getty, “, ”, Indian Express Locations: Wednesday’s, Japan, New Delhi, AFP, Phogat, “

☆ Nikkei 225: Asian markets make solid gains following global rout
▼ + stars: | 2024-08-07 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Asian markets made solid gains Wednesday, with Japanese shares reversing early losses after a central bank official played down the prospect of an immediate hike in interest rates. The gains follow days of volatility, which saw the Nikkei suffering Monday its biggest daily loss since 1987. “We won’t raise interest rates when financial markets are unstable,” he was quoted as saying in a speech to executives in the northern Japanese city of Hakodate. The central bank has hiked interest rates twice this year in a bid to contain inflation. Decades of extremely low interest rates in Japan had seen many investors borrow cash cheaply there before converting it to other currencies to invest in higher-yielding assets.

Persons: Shinichi Uchida, Kospi, Hong, Taiex, Uchida, ”, Olesya Organizations: Hong Kong CNN, Nikkei, Bank of Japan, US, Dow, Nasdaq Locations: Hong Kong, Asia, South, Hakodate, “, Japan, Europe, London

Asia-Pacific markets extended gains on Wednesday, tracking Wall Street benchmarks that snapped a three-day losing streak overnight. It further sold 3.87 trillion yen worth of dollars on May 1, ministry data showed. Customs data showed on Wednesday that China's imports in July grew faster-than-expected, while export growth missed forecasts. Exports in U.S. dollar terms rose by 7% for the month compared to a year ago, missing economists' expectations for a 9.7% increase. Meanwhile, U.S. dollar-denominated imports rose by 7.2%, far more than the economist's forecast of 3.5%.

Persons: Canon, Shinichi Uchida Organizations: Nikkei, Mitsui, SoftBank, Bank of Japan, Bank, Japan's Ministry of Finance, China's CSI, . Locations: Qingdao Port, Shandong province, Qingdao, China, Asia, Pacific

☆ Yen dives as BOJ plays down chance of hikes, soothing markets
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: +2 min

A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. The yen dropped on Wednesday after an influential Bank of Japan official played down the chances of a near-term rate hike, soothing investors' concerns that a further jump in the Japanese currency could again rock global markets. The yen fell around 2.5% to a session low of 147.94 per dollar following the comments from BOJ Deputy Governor Shinichi Uchida. "I think it's become increasingly clear that the BOJ hawkish turn last week could be a policy error," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. The yen's decline was broad based, with the Mexican peso, New Zealand dollar and Australian dollar - all carry trade candidates - surging against the currency.

Persons: Shinichi Uchida, Uchida, Kazuo Ueda's hawkish, it's, Alvin Tan, inching, Rong Ren Goh Organizations: Bank of Japan, Asia FX, RBC Capital Markets, U.S, Eastspring Investments, New Zealand Locations: U.S, Tokyo, Japan, Asia

☆ SoftBank swings back to gains at Vision Fund tech arm, announces up to $3.4 billion share buyback
▼ + stars: | 2024-08-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

SoftBank Group booked a 1.9 billion yen ($12.9 million) investment gain on its Vision Fund tech investment arm in the company's fiscal first quarter ended in June, swinging back into the black. However, the Vision Fund segment as a whole posted a 204.3 billion yen loss, after being in profit in the same quarter last year. The Japanese giant also announced it would buy back up to 6.8% of shares available in the company amounting to up to 500 billion yen ($3.4 billion). In the year ago quarter, SoftBank posted 159.77 billion yen gain in its Vision Fund. In the March quarter, SoftBank posted a loss of 57.53 billion yen in its flagship tech investment arm.

Persons: ByteDance —, SoftBank Organizations: SoftBank, Corp, Vision Fund, Vision, Bank of Japan Locations: Tokyo, Japan

☆ Japanese yen carry trade: A very popular trading strategy just blew up in investors’ faces
▼ + stars: | 2024-08-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

When you hear commentators talking this week about the “yen carry trade” or the “great unwind,” they’re referring to a popular trading strategy that is, suddenly, blowing up in investors’ faces. The carry trade, explainedPut simply: A carry trade is when you borrow money in a place where interest rates are low and use it to invest elsewhere in assets that generate some kind of return. “That is bonkers.”The yen carry trade proved especially popular in the last four years, because Japan was the only major economy in the world offering essentially free money. The carry trade relies on borrowing, which means it’s a leveraged position. “The carry trade unwind… is somewhere between 50%-60% complete.”In other words: Buckle up, and don’t panic.

Persons: CNN Business ’, ”, John Authers, “, it’s, John Sedunov, Kit Juckes, ” Sedunov, Arindam Sandilya, JPMorgan Chase, Buckle Organizations: CNN Business, New York CNN, Wall, ” Bloomberg, Treasury, Villanova School of Business, Bank of Japan, Federal Reserve, Societe Generale, JPMorgan, Bloomberg Locations: New York, Japan, Europe

☆ Japan got so spooked by Monday's market meltdown that it's now playing cool on more interest-rate hikes
▼ + stars: | 2024-08-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Stocks are rising after Monday's meltdown as Japan assured it will not hike rates if markets are unstable. Some analysts say BOJ's recent rate hike triggered Monday's sell-off as traders unwind yen carry trades. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Just last week, the Bank of Japan hiked interest rates and struck a hawkish stance that signaled more increases ahead following years of ultra-low and even negative rates. On Wednesday, Shinichi Uchida, a deputy governor at the Bank of Japan, said the central would not hike interest rates when the financial and capital markets are unstable.

Persons: —, Shinichi Uchida Organizations: Service, Bank of Japan, Business Locations: Japan

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.

Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S

☆ 'Hot money is saying sayonara': Japan fund manager names outperforming sector to buy amid sell-off
▼ + stars: | 2024-08-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

As Japanese stocks plummet, confirming a bear market, there are opportunities in small-cap and domestic-focused companies, according to fund manager Richard Kaye. 'Yen is just getting normal' Kaye believes the Yen's appreciation is a return to normalcy rather than an anomaly. "If you look even on Friday in all the bloodbath, domestic names, small cap names [were] actually outperforming," he noted. Indeed, the MSCI Japan Small Cap index has fallen 8.6% since July 11, outperforming the 14.4% decline in the MSCI Japan index on a local currency basis. In U.S. dollar terms, the losses, while proportionate, are smaller, with ETFs such as the iShares MSCI Japan Small-Cap ETF falling by 2.1% compared to the iShares MSCI Japan ETF, which is down 8.9% over the same period.

Persons: Richard Kaye, Kaye, Yen, CNBC's, They've, Warren, sayonara, I've Organizations: Growth, Toyota, Sony, U.S ., Japan ETF, Kobe, U.S, Mitsubishi, Mitsui, Sumitomo Locations: Comgest, Japan

☆ Worst of Japan market selloff is 'probably behind us,' strategist says
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWorst of Japan market selloff is 'probably behind us,' strategist saysMasahiko Loo, senior fixed income strategist at State Street Global Advisors, says the market "seems to be stabilizing."

Persons: Masahiko Loo Organizations: Japan, State Street Global Advisors

☆ The yen carry trade unwind: A big complication for global markets
▼ + stars: | 2024-08-06 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

In its simplest form, the yen carry trade has investors borrowing cheap yen to invest in higher yielding assets, often currencies. For example, because there is not a central source to track currency trades, we have no idea how big the yen carry trade is. The yen is rising, and that is making the yen carry trade less profitable. If the yen goes from 155 to 145, which is where it traded Monday, it will take $68,965 to repay that 10 million yen (10 million yen divided by 145 = $68,965). One positive sign: the ETF to watch is the Invesco Japanese Yen ETF (FXY), which tracks the price of the Japanese yen, had volume six times normal yesterday.

Persons: That's, Nicholas Colas Organizations: Nikkei, Street Journal, Federal Reserve, Bank of Japan, U.S, U.S ., Yen ETF Locations: U.S, Japan

☆ The stock market is panicking, but you don’t have to
▼ + stars: | 2024-08-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

To be sure, the carnage on Wall Street and in equities markets around the world was real. But Monday’s panic was the Wall Street equivalent of a tantrum from a kid who just got told they can’t have ice cream for dinner. But don’t let the stock market drama fool you: The US economy is still in good shape, despite some turbulence. “And I’m not too worried about Wall Street becoming poor.”Stocks looked to bounce back Tuesday. Wall Street worked itself into a lather when ChatGPT came out two years ago.

Persons: CNN Business ’, Stocks, Dow, Wall, don’t, Rana Foroohar, That’s, it’s, Goldman Sachs, ”, Jan Hatzius, ” Goldman, There’s, Beryl, “, Beryl didn’t, Aaron Sojourner, ’ ”, ChatGPT, Rob Haworth, ” Haworth Organizations: CNN Business, New York CNN, CNN, Nikkei, of Labor Statistics, Coast, BLS, WE Upjohn, Employment Research, White House Council, Economic Advisers, Fed, Federal, Markets, Big Tech, Nvidia, Microsoft, Wall, Bank of Japan, US Bank Locations: New York, Japan

☆ Correction in the dollar-yen was overdue and may be 'healthy' for markets, former ECB chief says
▼ + stars: | 2024-08-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A carry trade involves an investor borrowing a currency with low interest rates and reinvesting it in higher-yielding assets elsewhere — taking advantage of that differential to make a financial gain. Investors piled into yen carry trades in recent years, attracted by Japan's low volatility and ultra-loose monetary policy. Global stock markets meanwhile plunged as "safe haven" assets such as the Swiss franc and U.S. Treasurys were bolstered. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads," Kit Juckes, chief foreign exchange strategist at Societe Generale, said in a Monday note. Trichet told CNBC Tuesday: "The correction can be seen as a healthy correction, in some respects.

Persons: it's, Jean, Claude Trichet, CNBC's, Treasurys, Kit Juckes, Trichet Organizations: European Central Bank, ., Bank of Japan, U.S, Global, Swiss, Societe Generale, CNBC, Federal Locations: France's, U.S, Europe, United States

☆ Squeeze on carry trades leave currency markets on edge
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The yen was 1% lower on Tuesday at 145.78 per dollar in early trading, after rising for five straight sessions and touching a seven-month high of 141.675 on Monday. "Sell-offs that manifest themselves through wild swings in the currency markets are sharp and swift, but usually very short lived," said Jamie Cox, managing partner at Harris Financial Group. "Markets are clearly nervous about the divergent paths central banks are taking, leading to lots of volatility." The dollar index , which measures the U.S. unit versus six rivals, was flat at 102.87 in early trading after touching a seven-month low of 102.15 on Monday.

Persons: Jamie Cox, James Athey, undervaluation Organizations: U.S, Federal Reserve, Federal, Harris Financial, Traders, Bank of Japan, Marlborough Investment Management Locations: Yichang, Hubei province, recessionary, Japan, Switzerland, Tokyo

☆ JPMorgan says the carry trade that pummeled markets is only half done
▼ + stars: | 2024-08-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The unwinding of the carry trade that's battered stocks in recent days isn't done, JPMorgan says. It says that trade is probably only half over, as Japan looks poised to continue raising rates. AdvertisementThe "carry trade" unwind that helped spark the bloodbath in US stocks over the past few days likely isn't close to over, a JPMorgan strategist says. Market commentators say that's been partly stoked by a surprise 15-basis-point interest-rate hike in Japan, which triggered some investors to unwind a trade that's become popular in recent years. In this trade, investors borrow cheap yen and deploy the cash into higher-yielding assets elsewhere, like US stocks.

Persons: —, Arindam Sandilya, that's, Sandilya Organizations: JPMorgan, Service, FX, Bloomberg, Bank of Locations: Japan, Bank of Japan

☆ Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed
▼ + stars: | 2024-08-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewMarkets are rebounding after Monday's meltdown, injecting challenges into central banks' interest-rate decisions. The market volatility is due to a mix of factors including poor earnings results from several tech giants and a weak July payroll report. AdvertisementSome analysts are speculating that the BOJ rate cut was because it was under political pressure to shore up the floundering yen, Bloomberg reported on Monday. Related storiesGoing forward, the BOJ could have a harder time with the timing of its rate hike decisions. Talks of an emergency rate cutThe market selloff has also made the Fed's rate hike timing harder.

Persons: —, Kospi, Taiwan's Taiex, Kyle Rodda, It's, Vishnu Varathan, Mizuho Bank's, Capital.com's Rodda Organizations: Service, Business, Bank of Japan, US Federal Reserve, —, Bloomberg, Nikkei, Japan's, of Finance, Financial Services Agency Locations: Japan, Asia

The day's rout was sparked by a massive sell-off in Japanese stocks. The Nikkei fell 12.4%, its worst day since the 1987 "Black Monday" crash rattled investors around the world. Spencer Platt / Getty ImagesThe Japanese drawdown, in turn, was partly in response to the worse-than-expected jobs report published Friday that showed U.S. unemployment rising to 4.3% and just 114,000 jobs added in July. As soon as that report was published, stocks started erasing some of their earlier losses, while bond purchases, which had surged as investors sought safe-haven assets, faded. It’s a much easier decision to say I want to take my chips and go home here.”

Persons: Stocks, Spencer Platt, Apple, Warren Buffett's Berkshire Hathaway, ”, Michael Farr, Farr Organizations: Dow Jones, Nasdaq, Dow, Nikkei, New York Stock Exchange, Getty, Federal, Institute for Supply Management, Bank of Japan, U.S . Federal Reserve, Nvidia, Intel, Microsoft, Buffett, Miller & Washington Locations: New York City, U.S, Berkshire

☆ The S&P 500 is down 7.5%—but if you're worried about it, 'you shouldn't own stocks,' says Warren Buffett
▼ + stars: | 2024-08-05 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

U.S. stocks fell sharply Monday as part of a global selloff fueled by mounting recession fears among investors. Further roiling global markets is unusual currency trading out of Japan. The S&P 500 — a measure of the broad U.S. stock market — was down about 2% in early trading, putting it 7.5% below the index's all-time high close on July 16. In fact, you'd be wise to ignore short-term ups and downs in the stock market altogether — at least according to Buffett. "If you're worried about corrections, you shouldn't own stocks," Buffett said in a 2015 interview with The Street.

Persons: Warren Buffett, Berkshire Hathaway, you'd, Buffett Organizations: Federal Reserve, Berkshire, Apple, Treasury Locations: Japan, Omaha

☆ Investors want the Fed to save the market, but an emergency cut could make things worse
▼ + stars: | 2024-08-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Monday's global stock market sell-off led to calls for the Federal Reserve to step in , but that could prove to be even more trouble for investors. This sell-off is not being driven banking crisis, and an emergency rate cut by the Fed may hurt more than it helps, said Lawrence McDonald, a bestselling author and market risk expert. "If they do that, they weaken the dollar, they actually strengthen the yen, and this whole carry trade gets worse," McDonald said. The " carry trade " mentioned by McDonald and others as a key reason for this sell-off is related to interest rates in Japan. Central banks in the United States and other developed markets have hiked interest rates aggressively in the post-pandemic period to fight inflation.

Persons: Lawrence McDonald, McDonald, Lehman Organizations: Federal Reserve, Bank of Japan, U.S, Fed, Lehman Brothers Locations: Japan, Central, United States

☆ Dow plunges more than 1,000 points as global stock rout deepens on recession fear
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market crashed Monday, with the Nasdaq 100 dropping nearly 6%. AdvertisementUS stocks crashed on Monday, with the Nasdaq shedding nearly 6% as the global market rout that kicked off late last week accelerated. AdvertisementThe losses accelerated on Monday after Japan's stock market experienced its worst decline since the Black Monday crash in 1987, falling 12%. Berkshire Hathaway now holds a record $277 billion in cash, leading to some investors worrying that Buffett has soured on the stock market. The bigger question is whether this bloodletting will prove sufficient to provide a basis for a resumption of the stock market rally, and ultimately fresh record highs.

Persons: —, nonfarm payrolls, Jamie Cox, Warren, Berkshire Hathaway, Buffett, bitcoin, David Morrison Organizations: Nasdaq, Berkshire Hathaway's Apple, Service, Dow Jones, Amazon, Intel, Bank of Japan, Federal Reserve, Harris Financial, Berkshire Hathaway's, Berkshire, FCA Locations: Berkshire

☆ Dow crashes 1,000 points and the Nasdaq loses 3% as recession fears fuel market panic
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks plunged Monday amid recession fears and the yen carry trade unwind. AdvertisementUS stocks plunged on Monday as investors worried about a potential recession and the knock-on effects from the unwind of the yen carry trade. All of those factors have drummed up fears that a recession could be imminent, especially given that the Federal Reserve could be "behind the curve" in its failure to cut interest rates last month. AdvertisementHere's where US indexes stood at the 4:00 p.m. closing bell on Monday:Some believe the Fed should implement an emergency interest rate cut, including Wharton professor Jeremy Siegel. AdvertisementBut perhaps the biggest driver of Monday's stock market decline was the unwind of the yen carry trade.

Persons: Dow Jones, —, payrolls, Warren, Berkshire Hathaway, Jeremy Siegel, Siegel, LPL, Ed Yardeni Organizations: Nasdaq, Bank of, Service, Dow Jones, Apple, Amazon, Intel, Federal, Here's, Bank of Japan, Yahoo Finance Locations: Japan

☆ The market sell-off could be a 'growth scare,' Fundstrat's Tom Lee says
▼ + stars: | 2024-08-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The global sell-off in equities could end up being a mere "growth scare," according to Fundstrat managing partner and head of research Tom Lee. The index, known as Wall Street's "fear gauge," has more than doubled to above 50 since Friday, when it stood at roughly 23. For his part, Lee has been one of Wall Street's more bullish market commentators . But Lee opined that the sharp spike in Wall Street's fear gauge may suggest that a return to investor confidence could be over the horizon. "We have over three days where suddenly markets reversed, [and] declines like that are generally symmetric but you have to watch the VIX," Lee said.

Persons: Tom Lee, Lee, CNBC's, Russell Organizations: Nasdaq, Federal Reserve, Bank of, greenback Locations: U.S, Asia, Japan

☆ Global stock markets are sliding as Japan suffers biggest fall since 1987
▼ + stars: | 2024-08-05 | by ( Huileng Tan | Polly Thompson | ) www.businessinsider.com time to read: +5 min

Read previewJapan's main stock market index suffered its biggest fall since 1987, closing 12.4% lower on Monday, while markets in Asia and Europe also fell sharply. US stock markets sunk at the end of last week as investors digested a streak of negative economic data and disappointing earnings from Big Tech companies. The Chinese stock markets were already under pressure this year due to the country's economic troubles. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation. AdvertisementThe BoJ's rate hike has also fanned further risk-off sentiment in global stock markets.

Persons: —, Tony Sycamore, Taiwan's Taiex, Paris, it's, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Nikkei, Business, Big Tech, Nasdaq, IG Australia, Bloomberg TV, Kospi, CSI, Federal Reserve, Bloomberg, Bank of Japan, ING Locations: Asia, Europe, Frankfurt, London, Japan

☆ Global markets are off to a terrible start this week, and Japan is partly to blame
▼ + stars: | 2024-08-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewGlobal markets are off to a terrible start to the week. Stock markets are crashing across Asia after Japan's interest-rate hike last week contributed to a selloff that got worse and worse. AdvertisementInvestors are also on edge before the US markets open later in the global day. Global carry trade unwindingThe Bank of Japan raised its interest rate from between 0% and 0.1% to 0.25% on Wednesday — the highest level in 15 years. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation.

Persons: —, Kospi, India's Sensex, Tony Sycamore, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Stock, Business, IG Australia, Bloomberg, CSI, Dow Jones Industrial, Nasdaq, Federal Reserve, Bank of Japan, ING Locations: Asia, Japan

Hong Kong/London CNN —Japanese shares soared Tuesday, clawing back some of their record losses from the previous day and underpinning a tentative recovery on global markets. Markets around the world plunged during Monday’s session when a combination of fears about a slowing US economy, rising Japanese interest rates and crumbling tech stocks combined to trigger a meltdown. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “It is too early to conclude that the Japanese stock market has hit a bottom,” they said, adding that any recovery would likely only occur after Japanese companies report first-half earnings in October, or even after the US presidential election in November. A stronger yenJapan’s stock market, in particular, was hard-hit by the rapid appreciation of the yen, which undermines the export competitiveness of the country’s manufacturers.

Persons: clawing, Kospi, ” Neil Newman, ”, “, Stephen Innes, ” Newman, Newman, Fumio Kishida Organizations: London CNN, Nikkei, Nasdaq, Advisory, CNN, UBS Chief Investment, Moody’s, Bank of Japan, Management, Tokyo “, Traders, Reuters Locations: Hong Kong, London, Asia, South, Taiwan, Europe, Japan, Tokyo, South Korea

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