The Nikkei dives (-2.4%), but the yen resumes – Il Sole 24 Ore

The Nikkei dives (-2.4%), but the yen resumes – Il Sole 24 Ore

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This article was published on 14 October 2014 at 08:07.
The last change is the 14 October 2014 at 08:10.

TOKYO – The Nikkei index of the Tokyo Stock Exchange closed today in heavy fall of 2 38% to 14,936.51 points.

The Japanese stock market has gone along with the ‘”backed off” of international equity markets and, after the break on Monday for the feast of Sport and Health, starts the new week with the Nikkei below the threshold of 15 thousand points for the first time in the last two months.

In the context of renewed concerns about global growth which reduce the risk appetite of investors, the yen has strengthened around the threshold of a change on the dollar to 107 (maximum one month), while the euro is came close at 136 yen. The dynamic currency (based on the perception of the role of “safe haven” of the yen) mainly affects the titles of the exporting companies, now falling sharply from that of the automotive giant Toyota. Heavy even the titles of the transport sector and the mining (which suffer from the decline in commodity prices).

With Wall Street directed towards a significant correction (the Dow Jones has lost more than 670 points in the last three trading days, falling around the minimum of six months), the pessimism is back to spread in Asia, and are coming to the combs unresolved dell’Abenomics, with the Japanese economy still burdened by the consequences of the rise in VAT tripped April 1 last year (so much so that the International Monetary Fund recently made a drastic downward revision of its estimates on the growth of Gross Domestic Product in Japanese to a modest 0.9% for the current year). Do not help, moreover, the growing tensions manifested Square in Hong Kong yesterday and international concerns for the potential for the spread of Ebola.

Meanwhile in Japan wholesale prices rose by 3.5 % in September compared with a year: This is the 18th consecutive month of increase, but the pace of growth is continuing to torment him, partly because of the collapse in oil prices. Excluding the impact of VAT, wholesale prices rose only 0.7%: this is the first time in 16 months that are climbed less than 1 percent. And on a monthly basis were down 0.1% on the data of August. Which seems to confirm the slowdown in the inflation trend that affects consumer prices and is worrying the central bank, anxious to anchor concrete expectations of stable growth in inflation.

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