Bank Of Japan bought 101,4 billion yen of ETFs today
Today the Bank of Japan purchased a record daily amount of exchange-traded funds after governor Haruhiko Kuroda pledged to provide ample liquidity through its asset purchases, 101,4 billion yen is around $0,94 billion, As a result, Nikkei Index rose almost 3%. The problem now is that this week we are going to know 4 quarter GDP from Japan which is expected to fall 1%. Thus, this growth is temporary or until we receive negative data. Also, it looks like BOJ is simply trying to prop up stock prices.
On the other hand, Japanese Company Bankruptcies Rise for First Time Since 2008. In 2019, the number of Japanese companies with net liabilities in excess of ¥10 million rose 1.7% to 8,383, the highest level since the 2008 financial crisis, according to a report by credit reporting agency Tokyo Shōkō Research. On march 1, Under emergency legislation, the government ordered mask manufacturers to sell their products to the state. It announces it will supply masks to Hokkaidō municipalities with numerous infections.The Ministry of Health, Labor, and Welfare warns that gyms and buffet restaurants are particular danger spots for infections.
On the other hand, Japanese Company Bankruptcies Rise for First Time Since 2008. In 2019, the number of Japanese companies with net liabilities in excess of ¥10 million rose 1.7% to 8,383, the highest level since the 2008 financial crisis, according to a report by credit reporting agency Tokyo Shōkō Research. On march 1, Under emergency legislation, the government ordered mask manufacturers to sell their products to the state. It announces it will supply masks to Hokkaidō municipalities with numerous infections.The Ministry of Health, Labor, and Welfare warns that gyms and buffet restaurants are particular danger spots for infections.
Views and opinions for informational purposes only. Remember, past performance is no guarantee of future results.