The rising value of Japan’s yen currency is sending investors fleeing from an estimated $500 billion in “carry trades” that had been reliably profitable before the Bank of Japan (BoJ) raised its interest rate last week and strengthened the yen.
Tag: Japan
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GLOBAL MANUFACTURING SHOWED MIXED RESULTS IN JUNE
Europe’s manufacturing activity stumbled in June, with the Hamburg Commerce Bank’s purchasing managers index (PMI) for the region sinking to 45.8 after notching 47.3 in May.
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SPOTLIGHT: JAPAN’S ECONOMY IN FLUX
Japan’s central bank intervened in markets last week for a second time, buying $23 billion worth of yen to prop up the country’s sinking currency, Bloomberg reported after analyzing the bank’s current account figures.
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JAPAN’S CONSUMER SPENDING DOWN FOR 11TH CONSECUTIVE MONTH
Japanese household spending sank by 6.3 percent in January, year on year, the largest monthly slide since February 2021.
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JAPAN’S NIKKEI SOARS TO HEIGHT NOT SEEN SINCE 1989
On 22 February, Japan’s Nikkei 225 stock index reached its highest level since 1989 as bargain stock prices and tighter corporate regulations drew money exiting Chinese markets, Reuters reported.
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SPOTLIGHT: RECESSION WATCH
Japan’s economy shrank 0.4 percent in 2023’s final quarter, surprising economists and falling into a technical recession, which is defined as two consecutive quarters of economic contraction.
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SPOTLIGHT: BIGS GETTING BIGGER
Consolidation is the name of the “Bigs” game. The more they own the more they control… it’s the way of the power hungry world.
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U.S., SOUTH KOREA, JAPAN, FORM TRILATERAL MILITARY ALLIANCE TO COUNTER CHINA, ADDING TO TENSIONS IN REGION
Top national security advisers from the U.S., Japan, and South Korea met earlier this month in Seoul to follow up on the high-profile Camp David Summit in August with their countries’ leaders where countering China emerged as the conversation’s centerpiece.
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JAPAN’S GOVERNMENT UNLEASHES $113-BILLION STIMULUS
To add extra energy to a reviving economy, the government of Japanese prime minister Fumio Kishida will offer about $35 billion in temporary income and residential tax cuts and cash gifts to low-income households.
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BANK OF JAPAN HOLDS INTEREST RATE STEADY
The Bank of Japan (BoJ) did not change its interest rate when the governing committee met on 22 September, citing “extremely high uncertainties” about its own and the world’s economic future.