Japan Markets Fall as Rates Rise, Fundamental and Corporate News
Stock and fundamental news
• The Nikkei outshines all, falling 4.6% as markets price in the risk of higher interest rates under new Prime Minister Shigeru Ishiba. He has long been critical of the BOJ’s ultra-loose stance, leading investors to assume he will not stand in the way of policy normalisation. However, the actual management could change attitudes, and he struck a much more conciliatory tone over the weekend, saying accommodative policy was necessary given the state of the economy. Markets still show almost no chance of the BOJ tightening in October, but have 6 basis points of a...