Nikkei index closes with falls after Prime Minister Abe announces his resignation
Japan's main stock index, the Nikkei 225, has today distinguished itself from the widespread rises in Asian indices, and closed with a fall of 1.41%, down to 22,882.65 points, in reaction to the health-related resignation of Japanese prime minister Shinzo Abe.
The index opened the session with increases, like the rest of the Asian markets, driven by comments from US Federal Reserve president Jerome Powell, promising to allow higher inflation than expected in order to stimulate job creation in the United States. Abe's announcement, however, caused the index to turn sharply around, and reach lows of more than 2% at times.
Source: Admiral Markets MetaTrader 5. H4 Nikkei chart. Data range: from July 28, 2020, to August 28, 2020. Prepared on August 28, 2020, at 2.30 p.m. Keep in mind that past returns do not guarantee future returns.
Among the companies that recorded the greatest losses are Sony, which fell 3.26%, and Softbank, with a decline of 3.34%.
Abe has once resigned as prime minister in 2007 due to health problems related to chronic intestinal disease. He was re-elected to the position in 2012, and has served as Prime Minister without interruption until now.
Admiral Markets offers the possibility to trade the Nikkei through Contracts for Difference (CFD), which allows you to open short operations and thus take advantage of bear markets such as this one.
The Nikkei fell by 3.27% so far in 2020, after closing 2019 with a growth of 18.20%. Over the last five years, it has only closed one year in the negative: 2018, with a fall of 12.08%. However, in 2016 it only grew by 0.42%.
You can start trading the Japanese index with the most powerful trading platform on the market, just click on the following banner and download your free copy of MetaTrader 5 today:
INFORMATION ON ANALYTICAL MATERIALS:
The data provided provides additional information on all analyzes, estimates, forecasts, forecasts, market reviews, weekly outlooks or other evaluations or similar information (hereinafter "Analysis") published on the Admiral Markets website. Before making any investment decisions, pay close attention to the following:
- This is a marketing communication. The content is posted for informational purposes only and should not be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on pre-dissemination of investment research.
- Each investment decision is made by each client alone, while Admiral Markets UK Ltd (Admiral Markets) will not be liable for any loss or damage arising from such decision, whether based on content or not.
- In order to protect the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for the prevention and management of conflicts of interest.
- The analysis is prepared by an independent analyst, Carolina Caro, SEO implementer (hereinafter "Author") based on personal estimates.
- While all reasonable efforts are made to ensure that all sources of content are reliable and that all information is presented, as much as possible, in an understandable, timely, accurate, and complete manner, Admiral Markets does not guarantee accuracy. or integrity of any information contained in the Analysis.
- Any past performance or modeling of the financial instruments indicated in the content should not be construed as an express or implied promise, guarantee, or implication of Admiral Markets for any future performance. The value of the financial instrument may rise and fall, and the preservation of the asset's value is not guaranteed.
Leveraged products (including contracts for difference) are speculative in nature and may generate profit or loss. Before you start trading, make sure you fully understand the risks.