The Tokyo stock market continues to fall. In addition to the fall in US technology stocks last weekend, the spread of protests against China’s “zero corona” policy has increased uncertainty about the future of the global economy. The drop in industries that are particularly susceptible to the Chinese economy, such as trading companies, steel, non-ferrous metals, and mining, was conspicuous. Selling also spread to domestic demand-related sectors such as banks, real estate and construction.
Perspectives of market participants
Yoshihiro Okumura Senior Analyst at Chiba Bank Asset Management
- The spread of coronavirus infections and the spread of protests in China will lead to economic stagnation in the country and Asia.Until the infection subsides, the zero-corona policy, which adversely affects the economy and invites protests, is likely to continue.
- I got the impression that Black Friday in the United States was a solid result, but there is deep-rooted concern about a slowdown in the US economy heading into next year.The stock market lacks clues and there is a mood that makes it difficult to buy to the top
- Investors are unlikely to get serious about buying tech stocks as the US Federal Reserve (Fed) has not yet cut interest rates and will continue to tighten policy.
TSE 33 industries
|high drop rate||Steel, mining, real estate, banking, wholesale|
|top rate of increase||Air transportation, Gomu products, Land transportation|
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