Market Commentary - Foreign Markets
Nikkei continues to stay under stress As on : 08-Aug-24  16:56

Japanese markets fell notably amid lingering concern over slowing U.S. growth and recent market volatility.

The Nikkei average fell 0.74 percent to 34,831.15 while the broader Topix index closed 1.11 percent lower at 2,461.70.

The U.S. dollar briefly fell to the mid-145 yen range after a summary of opinions at the Bank of Japan's July policy meeting showed some members see room for further rate hikes and policy normalization.

Japan posted a current account surplus of 1.533 trillion yen in June, the Ministry of Finance said on Thursday - up 0.9 percent on year. Imports were up 3.4 percent on year at 8.612 trillion yen, while exports rose an annual 5.9 percent to 9.169 trillion yen for a trade surplus of 556.3 billion yen.

The capital account showed a deficit of 53.6 billion yen, while the financial account had a shortfall of 1.716 trillion yen.

The value of overall bank lending in Japan was up 3.2 percent on year in July, the Bank of Japan said on Thursday - coming in at 624.67 trillion yen.

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