Tokyo Stock Exchange: Nikkei closes down 0.3 per cent, having lost 4 per cent over the week
Focus on the BoJ and the yen following inflation figures above the 2 per cent target
(Il Sole 24 Ore Radiocor) - The Tokyo Stock Exchange partially recouped its losses in the second half of the session and ended the week with a modest fall. The Nikkei index, having initially fallen by more than 2 per cent due to selling in technology shares, closed at 62,693.16 points, down 0.34 per cent. The Topix slipped to 3,965.81 points, down 0.79 per cent. Over the past week, however, market turbulence has caused the index to lose a total of 4 per cent, pushing the Nikkei back to its lowest level since the end of July.
Investors’ attention, however, is also focused on movements in the yen and the Japanese central bank’s next moves in light of the latest inflation figures, which showed core prices in September rising above the Bank of Japan’s targets for the first time in nine months: expectations of tighter monetary policy in the coming months. The dollar-yen exchange rate, having fallen as low as 156.2, has risen back above 157.
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