The Tokyo Stock Exchange’s core Nikkei index, which reflects swings in the share prices of 225 leading Japanese companies, fell more than 11.8% during trading amid investor concerns about a possible U.S. recession and the yen’s strengthening against the dollar. data tender
As of 8:27 a.m. Moscow time, the index had fallen to 31,667.65 points. During trading, the index had fallen more than 4,000 points, a record, worse than its Black Monday performance in 1987, when the Nikkei fell to a peak of 3,836.33 points.
It was previously reported that Japanese authorities spent 5.5 trillion yen ($36.6 billion) on foreign exchange interventions to support the national currency between June 27 and July 29. This government spending in July was aimed at protecting the yen from speculators.
On July 31, the Bank of Japan raised the discount rate to 0.25% from 0-0.1%, the highest level since late 2008. It was the second time the regulator has raised the rate this year.
For the first time in 20 years in Japan released new money.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.