Asia's Market Giants Turn Into $11 Trillion Headache for Traders
- Tokyo, Shanghai shares among world's worst performers in 2016
- No stimulus from Bank of Japan added to woes on Thursday
Pedestrians are reflected in an electronic stock board outside a securities firm in Tokyo, Japan.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Asia’s two biggest stock markets are jostling for an ignominious prize.
Japan’s Topix index and China’s Shanghai Composite Index have tumbled more than 13 percent in 2016 to rank along Nigerian and Mongolian shares as the world’s worst performers. In the two years through the end of December, the Asian gauges outperformed MSCI’s global measure by at least 20 percentage points. The Bank of Japan stood pat on monetary policy Thursday, sending Tokyo stocks tumbling, while the Shanghai measure fell to a one-month low.