Tokyo Stock Exchange plummeting (-4.8%): the more violent correction by Lehman Brothers times – Il Sole 24 Ore

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This article was published on February 12, 2016 at 7:23.

TOKYO – New strong subsidence of the Tokyo Stock Exchange – after pausing yesterday for holidays’ – linked to the sharp rise of the yen yesterday. The Nikkei lost more than 5% from the start of trading and and ‘remained in strongly negative territory to close at 14,952.61 points, down of 4.84 percent. On a weekly basis, this is the worst collapse of the Japanese stock market (close to 13%) by the time of the explosion of the global financial crisis in October 2008.
The exchange rate of the yen and ‘located just above fee of 112 US dollars, after he crashed yesterday up to 110.8: its rapid appreciation promises to force en masse large Japanese groups to see again downward their projections on profits. So penalized, especially the titles of the company ‘export (since the car), but are giving a lot of ground also brokers titles, such as Nomura and Daiwa Securities. This time, moreover, the fall in stock exchange corresponds also to bond prices, with rates on ten-year bond edged up to 0.025 percent.
A sense of crisis pervades the political spheres in the midst of this general flight of investors from the stock market, although considered especially committed to international factors. Finance Minister Taro Aso expressed that the Shanghai G20 should address the issue of volatility ‘of foreign exchange markets with an approach Cooperation for Development. The Prime Minister Shinzo Abe and ‘surprise met with the Governor of the Bank of Japan Haruhiko Kuroda, whose announcement of 29 January on the introduction of negative interest rates has come to aggravate the tensions in the markets. So ‘they have spread rumors about a possible intervention of the next’ Japanese authorities on the forex market. The entire dell’Abenomics strategy is in crisis. And Monday ‘the preliminary data on gross domestic product for the fourth trimstre could be negative.

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