Political turmoil at home and abroad sparks panic! Retailers rush to sell Japanese stocks, selling amount hits new high in three months

Market IntelThursday, Nov 14, 2024 4:30 am ET

1min read

Individual traders sold a record amount of cash shares in Japan last week amid the tense battle between Harris and Trump in the U.S. presidential election, according to the Japan Exchange Group, netting 743.7 billion yen ($4.8 billion) in cash shares in the week ended Nov. 8, though the Nikkei 225 rose 3.7 percent as the yen weakened on Trump's victory, which was also the eve of the prime minister's election on Monday.

Jumpei Tanaka, strategist at Pictet Asset Management Japan Ltd., said individual investors may adjust their positions ahead of the U.S. election and exit from domestic political instability, selling shares. He added that concerns about intervention in the yen, which fell below 150 against the dollar again, may also have been a factor.

Other data showed foreign investors were net buyers, adding 193.8 billion yen in cash shares.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.