Source: Global Market Report On Monday, the turnover of US stocks ranked first, closing up 0.75% with a turnover of $38.014 billion. Since the opening on June 10, Nvidia's stock has been trading at adjusted prices after the split. The overall value of Nvidia is not expected to change after the split, and the lower stock price will make it easier for investors to reach. In terms of product structure, the operating income of 10-30 billion yuan products is respectively 401/1288/60 million yuan.
The past week's rate hike in Japan has had the biggest impact on the benchmark index in eight years. Despite market volatility, some investors still have confidence in the country's long-term stock market prospects.
The decision by the Bank of Japan to raise interest rates to 0.25% on Wednesday caused market volatility. The TOPIX index rose 1.5% that day, but fell on both Thursday and Friday.
The Bank of Japan's move, coupled with signals from the US Federal Reserve of a possible rate cut, pushed up the yen. Weakness in the yen has long been a key factor supporting Japanese export company stocks. However, investors and analysts from Hang Seng Investment, Goldman Sachs and others said that Japan's move toward normalization after years of negative interest rates will stimulate economic growth by increasing corporate pricing power and worker wages, thereby supporting the market.
"The long-term potential fundamentals are still good." said Wilfred Sit, chief investment officer at Hang Seng Investment, "Looking ahead to next year, there may be more signs of gradual recovery in the Japanese economy."
Financial stocks were hit hardest. After the rate hike on Wednesday, the bank sector surged, with the TOPIX bank index rising 4.7%. On Friday, the stock plummeted 11%. Mitsubishi UFJ Financial Group, Japan's largest bank, fell 12% on Friday, even though its earnings report on Thursday exceeded analysts' expectations. Similarly, despite exceeding profit expectations, Mizuho Financial Group's stock fell 11%. Shares of Daiwa Securities Group fell 19% as it missed analyst expectations.
"It's too early to say that what happened today will lead to a sustained adjustment." said Bloomberg industry research analyst Hideyasu Ban on Friday, "My impression is that the decline in overall market sentiment is dragging down financial stocks, rather than concerns about a possible deterioration in fundamentals."
Editor/Jeffy