Bank of America: US economic outlook and hawkish attitude of the Japanese Central Bank triggered a big dump in Japanese stocks

On August 2nd, according to the data from Jinshi, Masashi Akutsu, a strategist at Bank of America, said that concerns about the outlook for the US economy and the unexpected strong stance of the Japanese Central Bank were the main reasons for the big dump in the Japanese stock market on Friday. So far, the consensus in the market is that Japan's rate hike will be gradual, so it was a surprise when the governor of the Japanese Central Bank hinted this week that there could be multiple rate hikes soon. Despite the strengthening of the yen, the profitability of Japanese companies still looks healthy, and the market may recover once the US election is over.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)