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What Will Japan s New Prime Minister Mean for the Economy? – The Diplomat
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Mary Trevathan
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Investors beware – stock market correction coming?
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A stock market correction may be right around the corner
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“Powell’s press conference was well balanced and left the Fed with the flexibility to act according to economic data, fiscal stimulus and virus developments,” said John Vail, chief global strategist at Nikko Asset Management in Tokyo.
“Financial markets did not react very much to the result, and the yen remained relatively stable, which is helpful to Japan’s economy and financial markets.”
Positive earnings outweighed concerns about the worsening pandemic, after daily coronavirus cases hit a record high in Japan and its capital city.
Nissan Motor gained 7% after the carmaker reported a surprise first-quarter operating profit and raised its outlook, forecasting a return to net profit after two consecutive years of losses.