BANK OF JAPAN
Japan's Topix hits record high, yen and bonds fall on PM Ishiba exit
Japan's Topix share gauge reached a record high, the yen weakened and longer-dated bonds slid on Monday after Prime Minister Shigeru Ishiba's resignation stoked speculation that his successor will raise government spending.
Japan's stressed bond market, stocks brace for PM Ishiba exit reaction
Japan's stressed government bond market and soaring stocks are set for more volatility on Monday after the resignation of fiscal hawk Prime Minister Shigeru Ishiba.
Who could replace Shigeru Ishiba as Japan's prime minister
Following Shigeru Ishiba's resignation, Japan's political landscape shifts as potential candidates emerge for prime minister. Sanae Takaichi and Shinjiro Koizumi are considered frontrunners, while Toshimitsu Motegi has declared his candidacy. The opposition also eyes the premiership, with Yoshihiko Noda and Yuichiro Tamaki presenting alternative visions for Japan's future.
Japan's Topix hits record high, yen falls as PM Ishiba resigns
Following Shigeru Ishiba's resignation, Japan's Topix index reached a record high, while the yen weakened amid speculation that his successor will increase government spending. Sanae Takaichi, a potential candidate known for expansionary fiscal policies, is seen as positive for equities but potentially challenging for the bond market.
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GIFT Nifty up 80 points; here's the trading setup for today's session
Equity indices remained flat, buoyed by positive global cues and auto stock purchases. Despite global trade uncertainties, a simplified GST framework and strong domestic macros are expected to support market momentum. Technically, the Nifty may rise towards 25,150-25,250 if it decisively surpasses 24,750, with support at 24,500.
Asian stocks gain on rate cut optimism, yen dives after Ishiba resigns
Following weak U.S. jobs data, stocks rose amid expectations of Federal Reserve rate cuts, while the dollar weakened. Japan's yen declined due to political uncertainty after Prime Minister Ishiba's resignation, raising concerns about future monetary policy. Gold prices remained near record highs as investors awaited U.S. inflation data and monitored political developments in France.
Volatility risks rise in Japan with the exit of PM Ishiba
Japanese markets brace for instability as Prime Minister Ishiba's departure looms, triggering yen pressure and potential sovereign bond sell-offs. Uncertainty surrounds the fiscal policies of potential successors and the Bank of Japan's rate hike trajectory. Concerns over rising JGB yields could spill over into global debt markets, already sensitive to fiscal pressures.
Who could replace Ishiba as Japan's prime minister
Japan’s Prime Minister Shigeru Ishiba will resign after his party’s election defeats, triggering a leadership race in the ruling LDP. The winner must secure a parliamentary vote to become premier, though the LDP’s weakened position leaves room for an opposition leader to take power. Likely contenders include LDP’s Sanae Takaichi, Shinjiro Koizumi, Yoshimasa Hayashi, opposition leader Yoshihiko Noda, and Yuichiro Tamaki.
Charting the Global Economy: Weak US jobs data to prod Fed rate cuts
Concerns about a potential US labor market downturn intensified following disappointing employment data, increasing expectations for Federal Reserve interest rate cuts. Globally, factory activity contracted, particularly impacting Europe's electric vehicle market and prompting innovative recruitment strategies in the defense sector.
5 world market themes for the week ahead
Global markets brace for a week of pivotal economic data from the U.S., China, and Japan, alongside key central bank meetings. Investors are keenly awaiting the U.S. inflation report, influencing potential Federal Reserve rate cuts. Political uncertainties in France and Norway add to the market's cautious sentiment.
Asia export hubs show robust activity despite Trump tariffs
Trade deals, central bank easing, and domestic growth are helping to insulate Asian economies, leading to upgraded growth forecasts and optimistic investor sentiment.
Asian shares join global rally before US jobs data
Asian shares experienced early gains following a Wall Street rally fueled by signs of a cooling US labor market, reinforcing expectations of Federal Reserve rate cuts. Japan's Nikkei-225 surged after President Trump's trade agreement implementation. Investors are closely watching upcoming jobs data, hoping for a gentle deceleration that prompts Fed action without signaling deeper economic concerns.
Japan's SoftBank sells 2.15% stake in Ola Electric, cuts holding to 15.68%
SoftBank Group has divested a 2.15% stake in Ola Electric over nearly two months, reducing its holding to 15.68%. Despite this sale, Ola Electric shares experienced a recent surge, fueled by government incentives and PLI scheme approval. However, a GST cut on traditional two-wheelers and SoftBank's stake sale led to a 7% drop in share price.
Japan's SoftBank trims stake in Ola Electric to 15.7%
SoftBank Group reduces its stake in Ola Electric. The shareholding now stands at 15.68%, down from 17.83%. This follows the sale of a 2.15% stake over two months. SoftBank, the second-largest shareholder, sold 94.9 million shares between July and September. Ola Electric went public in August 2024. Recent trading volumes have increased significantly.
Japan, US near deal to bring lower auto tariffs into effect: Source
Japan and the United States are nearing a deal on reducing tariffs on Japanese cars. The U.S. may lower the tariff from 27.5% to 15% soon. Trade negotiator Ryosei Akazawa is in Washington to push for the executive order. The deal includes Japan's plans to increase U.S. rice imports and buy U.S.-made aircraft.
Japan's Nikkei rebounds as tech shares mirror Wall Street peers
Japan's Nikkei share average rebounded on Thursday from a nearly one-month low in the previous session, as domestic technology stocks led the rally following overnight gains among U.S. peers.
Asian stocks rise as weak US jobs fuel Fed bets
Asian equities rose, mirroring Wall Street's gains, as weak US job openings data fueled expectations of a Federal Reserve interest-rate cut. Markets are pricing in a September cut and anticipating at least two reductions this year.
Citibank appoints Kaustubh Kulkarni as co-head of investment banking for Asia-Pacific
Citibank has appointed Kaustubh Kulkarni as co-head of investment banking. He will oversee operations in Japan, North Asia, Australia, and South Asia. Kulkarni will join from JPMorgan. He will be based in Singapore. Vikram Chavali and Deepak Dangayach have also been appointed to key roles. Citi's investment banking revenues increased by 15% in the second quarter.
Yes Bank shares jump 2% following CCI’s approval for SMBC stake acquisition
Yes Bank's shares experienced a 2% surge following the Competition Commission of India's (CCI) approval for Sumitomo Mitsui Banking Corporation's (SMBC) proposed stake acquisition. SMBC will acquire the stake through a secondary purchase from State Bank of India and seven other Indian banks. The completion of the transaction is still subject to customary closing conditions.
Japan's super-long bonds fall as PM Ishiba's aide intends to resign
Japanese super-long dated bonds experienced a downturn, pushing yields to unprecedented highs amid renewed concerns about the nation's financial stability. This market reaction followed news of a close aide to Prime Minister Shigeru Ishiba intending to resign. The 30-year JGB yield surged by 8 basis points to 3.28%, while the 20-year JGB yield climbed 7 bps to 2.
CCI approves SMBC's stake buy in Yes Bank
The Competition Commission of India on Tuesday approved Japanese company Sumitomo Mitsui Banking Corporation's stake purchase in Indian lender Yes Bank .
Benchmark JGBs rally after auction shows strong demand
Japanese government bonds saw a surge after a successful auction. Demand for the 10-year notes was the highest in almost two years. Bank of Japan official Ryozo Himino suggested further interest rate hikes. Focus is now on the upcoming 30-year bond auction. Political uncertainty and government spending plans are also impacting the market. The 30-year JGB yield increased slightly.
Asian stocks edge up, Japan bond auction in focus
Asian stocks saw modest gains, driven by technology and AI sectors, particularly Alibaba's surge. Investors are eyeing upcoming jobs and inflation data, along with the Federal Reserve's rate decision, amid historical September market weakness. Meanwhile, Indonesian markets face political risks, and longer-maturity bonds brace for a potentially challenging month.
Super-long JGB yields retreat on speculation of further issuance cuts
Japanese government bond yields experienced a pullback after reports suggested the Ministry of Finance is considering further reducing the issuance of ultra-long-term bonds. This move follows concerns about weak demand and the Bank of Japan's quantitative tightening.
Advantest leads Japan's Nikkei higher ahead of Nvidia report
Japan's Nikkei experienced a boost, driven by Advantest's gains as investors eagerly anticipated Nvidia's outlook. Nikon surged following reports of EssilorLuxottica's potential stake increase. Market sentiment was influenced by expectations of a Federal Reserve rate cut and concerns about potential Bank of Japan policy adjustments, impacting the yen's trajectory. Automakers saw mixed performance, while bank shares generally declined.
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