The Calm Has Gone Again From the Japanese Stock Market: Chart

A man passes before a share prices board in Tokyo on January 29, 2016.

Photographer: Yoshikazu Tsuno/AFP/Getty Images

After a lull last month, volatility has returned to Tokyo. The Topix index posted bigger daily moves than the U.S. benchmark gauge in each of the past five days, as it fluctuated between steep drops and even larger gains. Swings in Japan are exacerbated by movements in its currency, which strengthens when investors want to avoid risk.

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