Japan 06 (Aug 17 - Sep 23)

[behappyalways]

Japanese Investors Panic After Stocks Tumble And BOJ Does Not Buy ETFs
https://www.zerohedge.com/markets/japan ... t-buy-etfs

[winston]

Kuroda says BOJ ready to buy ETFs 'boldly', drops no hints on when

by Leika Kihara

As part of efforts to make its massive stimulus sustainable, the BOJ in March ditched a pledge to buy ETFs at a set annual pace and now promises to step in only when necessary.

Since then, it has bought ETFs on three days in March, once in April and not at all so far in May. That is well below its average appearance of six days per month last year.

Kuroda said the BOJ's basic stance was to buy ETFs in huge amounts when market fluctuations are large, based on its findings that doing so was most effective in maximising the effect.

Source: Reuters

https://www.theedgemarkets.com/article/ ... -new-curbs

[behappyalways]

Protests grow to cancel Tokyo Olympics as Covid-19 outbreak worsens in Japan
https://m.youtube.com/watch?v=67D_aGcagWA

[winston]

BOJ surprise

The BOJ surprised investors with a measure to mitigate climate change, while standing pat on its main policy levers.

The initiative will fund bank lending to climate-friendly businesses.

The BOJ also pushed back the end of its Covid-19 era lending measures by six months.

On the macro front, Haruhiko Kuroda said core CPI is expected to move around zero before gaining upside momentum.

Source: OCBC

[winston]

After the 'bazooka', Bank of Japan dismantles the work of its radical chief

by Leika Kihara

Deputy Governor Masayoshi Amamiya considered the top contender to replace Governor Kuroda whose term ends in 2023.

"The current stimulus can't stay forever and must be rolled back at some point" .

Selling the BOJ's huge ETF holdings will be even tougher.

Source: Reuters

https://finance.yahoo.com/news/bazooka- ... 43307.html

[behappyalways]

Sumo’s greatest-ever champion Hakuho brings curtain down on record-breaking career
https://m.youtube.com/watch?v=tXTP4Q8lkrY

[behappyalways]

Japan beef bowls and coffee costing more as workers feel the pinch from food price hike
https://m.youtube.com/watch?v=txTGpdO4FCg

[winston]

Japan's economy shrinks more than expected as supply shortages hit

The economy shrank an annualised 3.0 percent in July-September after a revised 1.5 percent gain in the first quarter.

Japanese firms still face risks from higher commodity costs and supply bottlenecks, which threatens to undermine the economic outlook over the short- to mid-term.

Source: Reuters

https://www.thestandard.com.hk/breaking ... rtages-hit

[behappyalways]

BoJ Panics, Unleashes Short-Term Liquidity For First Time Since 2006 Amid Repo Spike
https://www.zerohedge.com/markets/boj-p ... repo-spike

[winston]

Higher interest rates may cause Japan's debt-servicing to top 30t yen in FY2025

Japan's debt servicing costs would exceed 30 trillion yen (S$353.3 billion) for the first time ever in fiscal 2025 if interest rates rise by 1 per cent more than expected.

Projected debt servicing costs, worth 24.3 trillion yen for the next fiscal year, would hit 28.8 trillion yen in fiscal 2025, assuming interest rates at 1.3 per cent.

Years of massive fiscal stimulus have left infrastructure that is rarely used in rural areas, a debt pile and debt-servicing costs, now accounting for a quarter of this year's state budget worth a record 107.6 trillion yen.

Source: Reuters

https://www.businesstimes.com.sg/govern ... -in-fy2025