On Wednesday Japanese shares kept diving, hitting their lowest value since October 2014. It’s because concerns regarding the health of the world economy persisted.
The Nikkei Stock Average was deprived of 2.6% at 15673.21, thus losing all its hard-earned gains since the BOJ’s easing expansion in October 2014. The benchmark lacked 5.4% on Tuesday. It was its greatest dip since June 2013.
Market participants are still looking for a good haven from global market fluctuation in the major Japanese currency, which soared 0.4% to its strongest value since 2014 against the greenback, which traded for ¥114.45.
Another investors’ concern is rooted in the evident fact that global markets are currently expected to bottom out. So, they worry concerning the overall health of the global economy as well as the condition of energy companies as oil prices sag. To add to this, uncertainty over the pace of American interest-rate tightening is over there.
The chief fund manager of Ichiyoshi Investment Management, Mitsushige Akino points out that until turmoil eases overseas, it’s almost impossible to expect an instant market recovery. Investors’ major concern, a probable global credit crunch, is most likely unreal in the nearer future, he adds.