The Nikkei 225 fell 1.42 percent to 69,042.11. Prime Minister Sanae Takaichi told parliament Japan no longer needs the old reflation mix of easy money and aggressive spending.
Japanese stocks fell for a second day on Thursday. The Nikkei 225 closed at 69,042.11, down 993.60 points, or 1.42 percent, Yonhap Infomax reported. Bloomberg said the Topix fell 1.5 percent to 4,091.46, with banks and electronics among the largest drags.
Yonhap Infomax linked the drop to overnight weakness in US equities, higher long-term yields and stronger oil prices. Bloomberg said changes to Topix index weightings also prompted selling in shares set to have a smaller index presence.
Prime Minister Sanae Takaichi told parliament that Japan is no longer at a stage where reflation policies of monetary easing and aggressive fiscal spending are necessary. The remark followed comments from US Treasury Secretary Scott Bessent that Japan should stop reflation after the yen's weakness, Yonhap Infomax reported.
The Bank of Japan upgraded its assessment for two of nine regions, Shikoku and Hokuriku, in the October Sakura report. It said companies in many regions are passing widespread cost increases into selling prices.
The closes are Thursday's settlement levels. They are not a forecast of Friday's open.
People Sentiments Negative
- Sanae Takaichi said Japan is no longer at a stage where reflation through easy money and aggressive spending is necessary.