Japanese Stocks Fall as Nomura Plunges on Earnings, Oil Slumps
- Crude capped biggest two-day loss in almost seven years
- Topix gives back most of its gains from BOJ stimulus action
Global Stocks Sell Off: What Happened to the QE Premium?
Japanese stocks fell, with the Topix index wiping out most of its gains from last week’s Bank of Japan stimulus boost, as tumbling oil prices drove a global equities selloff and brokerages slumped after Nomura Holdings Inc.’s earnings disappointed.
The Topix dropped 3.2 percent to 1,406.27 at the close in Tokyo, as investor jitters about the pace of global economic growth reversed a rally following the BOJ’s surprise decision on Friday to adopt negative interest rates. All but one of the 33 Topix industry groups fell, on volume 33 percent above the 30-day average. The Nikkei 225 Stock Average lost 3.2 percent to 17,191.25. The yen traded at 119.56 per dollar, strengthening for a third day.